Lights out. (Panorama).
Enersis, the Chilean energy investment arm of Spanish utility Endesa, is selling operations throughout Latin America to refinance and reduce US$8.9 billion in debt. To that end, Enersis sold its 98.7% stake in electric distributing company Compania Electrica del Rio Del Rio (rē`ō), city (1990 pop. 30,705), seat of Val Verde co., W Tex., on the Rio Grande opposite Ciudad Acuña, Mexico; founded 1868, inc. 1911. It is the marketing and distribution center for a region known for its sheep, wool, and mohair. Irrigated farms also yield truck crops and fruits (especially grapes). Maipo for US$203 million in stock and debt to Chile's CGE Distribucion. Enersis has also sold its Canutillar generator in the southern city of Puerto Montt Puerto Montt (pwār`tō mōnt), city (1992 pop. 130,730), capital of Los Lagos region, S central Chile, a port on Ancud Gulf, an inlet of the Pacific Ocean. It is the southern terminus of Chile's mainland railroads and the starting point for navigation through the inland waterways and among the islands to the south. to Chile's Grupo Matte for US$174 million, as well as its power transmission assets in northern Chile to Canada's HQI HQI - Housing Quality Indicator Transelec for $110 million. The debt reduction plan is expected to be complete in 2003.
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