Chile's Enap, Partners Team Up To Bid For Shell's Local Unit

Date : 01/28/2011 @ 3:29PM
Source : Dow Jones News
Stock : Encore Energy Partners Lp (ENP)
Quote : 20.05  0.0 (0.00%) @ 2:05AM

Chile's Enap, Partners Team Up To Bid For Shell's Local Unit

Shell B (LSE:RDSB)
Historical Stock Chart

5 Years : From Jan 2013 to Jan 2018

Click Here for more Shell B Charts.

Chile's state-owned oil and gas company Empresa Nacional del Petroleo's joint venture with Peru's Romero Group, in conjunction with local businessman Alvaro Saieh, aims to purchase Royal Dutch Shell PLC's (RDSB.LN) Chilean unit, a person close to the matter said Friday, confirming local newspaper reports.

"There is interest in buying Shell's assets. It would be an alliance between Enap, the Romero group and [Chile's] Saieh; we believe the purchase would create synergies," the person said.

The sale of Shell's Chilean unit, which holds an approximately 17% market share, will likely cost $500 million, local newspaper La Tercera reported.

The Luksic family, which controls U.K.-listed copper-mining company Antofagasta PLC (ANTO.LN, ANFGY), U.S.-listed beverage company Compania Cervecerias Unidas SA (CCU, CCU.SN) and Banco de Chile (BCH, CHILE.SN), is also reportedly bidding for Shell's Chilean assets.

A spokeswoman for the Luskic family declined to comment.

Enap, as the state-owned energy company is called, supplies about 80% of Chile's fuel needs and exports refined products to Peru, Ecuador and Central America.

Saieh owns local bank CorpBanca (BCA, CORPBANCA.SN) and the Supermercados Unimarc SA supermarket chain.

-By Anthony Esposito, Dow Jones Newswires; 56-2-715-8929;


Latest ENP Messages

{{bbMessage.M_Alias}} {{bbMessage.MSG_Date}} {{bbMessage.HowLongAgo}} {{bbMessage.MSG_ID}} {{bbMessage.MSG_Subject}}

Loading Messages....

No posts yet, be the first! No {{symbol}} Message Board. Create One! See More Posts on {{symbol}} Message Board See More Message Board Posts

Your Recent History
Gulf Keyst..
FTSE 100
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.

NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.