16th Feb 2009 07:00
For immediate release
Antofagasta plc
Aguas de Antofagasta - acquisition of desalination facility
London, 13 February 2009 - Antofagasta plc ("Antofagasta") announces that its subsidiary Aguas de Antofagasta S.A. ("ADASA") has entered into an agreement to acquire the desalination plant located in the city of Antofagasta from the current owner, Desalant S.A. ("Desalant") for a purchase price of approximately US$52.5 million. As part of this agreement, on-going arbitration proceedings between ADASA and Desalant will also be terminated.
The desalination plant provides ADASA with a part of its water for its distribution business. Following the completion of the acquisition, ADASA will operate the plant but as it is presently the sole customer, the acquisition will have no direct impact on water volumes or sales.
Completion of the agreement, which is subject to a number of conditions including shareholder approval on the part of Desalant, is expected by the end of the first quarter of this year. The desalination plant, when acquired, will be held under the terms of the 30-year concession to distribute water in Chile's Antofagasta Region which was acquired by ADASA in 2003.
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Enquiries - London Antofagasta plc Tel: +44 20 7808 0988 www.antofagasta.co.uk Desmond O'Conor Email: [email protected] Hussein Barma Email: [email protected] Press Enquiries - London Bankside Consultants Tel: +44 20 7367 8874 Mobile: +44 7811168822 Oliver Winters Email: [email protected] |
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