REN to acquire Transemel for $167m.

REN, a Portuguese energy sector company which is the current concession holder of the country's two main energy infrastructure networks, agreed to acquire Transemel for $167m. Transemel owns and operates 92 km of electricity transmission lines and five substations, located mainly in northern Chile. The investments made in Chile match REN's strategic requirements. A larger presence in this country allows the company to focus on a single geography, already known to REN, where it has had a good experience and where the company can leverage its highly reputed technical expertise.