REG - Antofagasta PLC - Sale of Water Division <Origin Href="QuoteRef">ANTO.L</Origin>

AntofagastaAnnouncement

15/07/2015 14:25

RNS Number : 1588L
Antofagasta PLC
23 April 2015
NEWS RELEASE, 23 APRIL 2015
SALE OF WATER DIVISION
Antofagasta plc is pleased to announce the sale of Aguas de Antofagasta S.A. (ADASA), its water division, to Empresas Pblicas de Medelln (EPM) for a total cash consideration of CLP 596 billion or approximately $960 million before taxes and transaction costs. The sale is subject to certain standard conditions and the approval of Empresa Concesionaria de Servicios Sanitarios S.A (ECONSSA), the grantor of the water concession, and is expected to be completed by the end of May 2015.
ADASA provides potable desalinated water to domestic and commercial customers under a 30 year concession in Chile's Antofagasta region. The division contributed $63.6 million to the Group's 2014 profits before tax, with EBITDA of $75.1 million. The gross assets of the division as of 31 December 2014 are $212.4million.
EPM is an electricity, gas, water and sanitation provider owned by the city of Medelln that delivers these services to over 20 million people in Colombia, El Salvador, Guatemala, Mexico and Chile.
Diego Hernandez, CEO of Antofagasta plc said, "We are very pleased to announce the sale of ADASA to EPM following a formal competitive sale process. This sale will allow Antofagasta to focus even more closely on its mining business and to advance its various development projects, whilst reinforcing the strength of our balance sheet."
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Investors - London   Media (Brunswick)
Andrew Lindsay alindsay@antofagasta.co.uk Carole Cable antofagasta@brunswickgroup.com
Paresh Bhanderi   pbhanderi@antofagasta.co.uk  Robin Wrench  antofagasta@brunswickgroup.com
Telephone +44 20 7808 0988 Telephone +44 20 7404 5959
Investors - Santiago  
Alfredo Atucha   atucha@aminerals.cl
Telephone +56 2 2798 7000
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