OTPPB and Alberta Investment-backed Grupo Saesa completed the acquisition of a 99% stake in the electricity transmission business in Chile of Enel for $1.35bn.

OTPPB and Alberta Investment-backed Grupo Saesa, a provider of electrical transmission services, completed the acquisition of a 99% stake in the electricity transmission business in Chile of Enel, an integrated electricity and gas distributions company, for $1.35bn. Following completion of the full takeover bid, STM will acquire the entire stake held by Enel Chile in Enel Transmisión Chile and repay the latter’s intercompany loans. The closing of the transaction is expected by the end of the year.