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NEWS RELEASE, 23 APRIL 2015
SALE OF WATER DIVISION
Antofagasta plc is pleased to announce the sale of Aguas de Antofagasta S.A. (ADASA), its water division, to Empresas Públicas de Medellín (EPM) for a total cash consideration of CLP 596 billion or approximately $960 million before taxes and transaction costs. The sale is subject to certain standard conditions and the approval of Empresa Concesionaria de Servicios Sanitarios S.A (ECONSSA), the grantor of the water concession, and is expected to be completed by the end of May 2015.
ADASA provides potable desalinated water to domestic and commercial customers under a 30
year concession in Chile's Antofagasta region. The division contributed $63.6 million to the
Group's 2014 profits before tax, with EBITDA of $75.1 million. The gross assets of the division as of
31 December 2014 are $212.4million.
EPM is an electricity, gas, water and sanitation provider owned by the city of Medellín that delivers these services to over 20 million people in Colombia, El Salvador, Guatemala, Mexico and Chile.
Diego Hernandez, CEO of Antofagasta plc said, "We are very pleased to announce the sale of ADASA to EPM following a formal competitive sale process. This sale will allow Antofagasta to focus even more closely on its mining business and to advance its various development projects, whilst reinforcing the strength of our balance sheet."
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Antofagasta plc
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PRODUCER |
CODE : ANTO.L |
ISIN : GB0000456144 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Antofagasta is a copper and gold producing company based in United kingdom. Antofagasta produces copper, gold, molybdenum and silver in Chile, develops copper and gold in Chile and in Pakistan, and holds various exploration projects in Australia, in Chile, in Peru and in Sweden. Its main assets in production are MICHILLA, EL TESORO MINE, LOS PELAMBRES, EL TESORO, ESPERENZA (OXIDES) and ESPERANZA (SULPHIDES) in Chile, its main assets in development are REKO DIQ in Pakistan and LINCE/MICHILLA in Chile and its main exploration properties are PUNT HILL and PYRAMID ( ALASKA) in Australia, KIRUNA SOUTH in Sweden, CORDILLERA DE LAS MINAS in Peru and ANTUCOYA in Chile. Antofagasta is listed in Germany, in United Kingdom and in United States of America. Its market capitalisation is GBX 2 223.1 billions as of today (US$ 2 594.8 billions, € 2 425.1 billions). Its stock quote reached its lowest recent point on October 18, 2002 at GBX 100.00, and its highest recent level on April 26, 2024 at GBX 2 255.00. Antofagasta has 985 856 000 shares outstanding. |