Business
Acquisition of desalination f
Acquisition of desalination f.
About this update from Antofagasta Plc
[{"type":"text","content":"\n RNS Number : 3427N Antofagasta PLC 13 February 2009 \n \nFor immediate release\n\nAntofagasta plc\n\nAguas de Antofagasta - acquisition of desalination facility\nLondon, 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.\n\nThe 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.\n\nCompletion 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.\n\n\n\n\n\n\nEnquiries - London\n\nAntofagasta plc\nTel: +44 20 7808 0988\nwww.antofagasta.co.uk\n\nDesmond O'Conor\nEmail: [email protected]\n\nHussein Barma\nEmail: [email protected]\n\nPress Enquiries - London\n\nBankside Consultants\nTel: +44 20 7367 8874\nMobile: +44 7811168822\n\nOliver Winters\nEmail: [email protected]\n\n\n\n\n\n\n\n\n\nThis information is provided by RNSThe company news service from the London Stock Exchange END MSCUOORRKRRUAUR \n ","length":4454,"tagName":"div"}]