Spanish energy company Gas Natural Fenosa said Tuesday it sold its stakes in Nicaraguan electric utilities Disnorte and Dissur for $57.8 million.
The interests in the Central American utilities were sold to Nicaragua's TSK-Melfosur Internacional, which was formed by Spain's TSK and Melfosur, in ceremony attended by several Nicaraguan Cabinet ministers, Gas Natural Fenosa said in a statement.
The deal covers Gas Natural Fenosa's 83.69 percent stake in Distribuidora de Electricidad del Norte, S.A., or Disnorte, and 83.73 interest in Distribuidora del Sur, S.A., or Dissur.
The two utilities distribute electricity in the Central American country.
"The company maintains its commitment to Latin America, where 25% of the group's EBITDA currently comes from and where it hopes to continue growing in the coming years. As the leading natural gas distributor and main integrated energy operator in the area, today it is present in 10 Latin American countries and has key positions in the main markets," Gas Natural Fenosa said.
The multinational energy company distributes natural gas in Argentina and Brazil; provides electricity and gas in Colombia; generates electricity and distributes gas in Mexico; and generates and distributes electricity in Panama.
Gas Natural Fenosa generates electricity and operates a regasification plant in Puerto Rico, and it operates power plants in Costa Rica and the Dominican Republic. EFE