The Chilean National Economic Prosecutor, the antitrust regulator in the country, has authorised the Spanish energy group Naturgy to sell its stake in the Chilean electricity distribution company Compañía General de Electricidad (CGE) to the Chinese state-owned firm State Grid International Development (SGID).
In November 2020, Naturgy signed an agreement with SGID to sell its 96.04% stake in CGE for a total consideration of €2.57bn (US$3bn). CGE is one of the largest electricity distribution companies in Chile and supplies electricity to 45% of the country's households. The company operates in the Central Interconnected System (SIC) and the Northern Interconnected System (SING), serving more than 2.6 million customers through its subsidiaries Emel Norte. CGE is active in 14 regions of Chile.
In June 2020, SGID acquired Sempra's 100% stake in Chilquinta Energía for US$2.23bn. Chilquinta Energía is the third-largest distributor of electricity in Chile, providing electricity to approximately 2 million consumers in the regions of Valparaíso and Maule in central Chile. In addition, Chilquinta Energía also develops and operates power transmission lines in Chile.