Endesa sells highway assets for US$273mn

Chilean generator Endesa (NYSE: EOC) has sold its 60% stake in the Infraestructura 2000 highway holding to Spanish construction company Obrascon Huarte Lain (OHL) for the equivalent of US$273mn, Endesa said in a statement. Some US$217mn of the deal will pay off debt owed to Endesa by Infraestructura 2000. The holding owns concessions for the Autopista del Sol and Autopista Los Libertadores highways, which link capital city Santiago to San Antonio and Los Andes, respectively. The sale also included a direct 0.1% Endesa stake in Autopista del Sol. The sale is part of the financial and economic strengthening plan that the Endesa board approved last October, and which once complete should provide Endesa with US$600mn-700mn income. This year the company has sold hydro plant Canutillar and a package of transmission lines in Chile's northern grid (SING).