Business Services Industry
AES Gener completes financial reorganisation process.
South American Business Information, June, 2004
Chile, Jun 22, 2004 (El Mercurio/SABI via COMTEX)
AES Gener, the Chilean electricity generation company which is owned by AES, the US energy group, yesterday completed its share capital increase operation. Inversiones Cachagua, the holding company of AES for AES Gener, acquired 99.8% of the 714,084,234 new shares issued, or about US$96.5mil worth of shares. With the operation, Inversiones Cachagua increased its stake in AES Gener by 0.14% to 98.79%. Initial plans, however, involved the sale of US$100mil worth of new shares. The sale also marks the completion of the financial reorganization process that the company announced in November 2003. The process enabled the company to reduce its liabilities by US$302mil and extend the terms of its main debts. As part of...
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