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Report: Chilectra invited to bid for Emel

Bnamericas
Chilean distributor Chilectra has been invited by PPL Corp (NYSE: PPL) to bid for the Pennsylvania-based company's distributor Emel, Reuters reported, quoting a Chilectra executive. Chilectra will decide in the next few days whether or not to present a bid for the firm, Reuters quoted Chilectra CEO Rafael Lopez-Rueda as saying. It had previously been speculated that local power company CGE also could be in the running to purchase Emel. Emel has 546,000 clients served by 21,906km of transmission and subtransmission lines and 917km of distribution lines with annual consolidated sales of more than 2.29TWh, according to the company's first quarter earnings statement. The company controls five subsidiaries including Emelari, Eliqsa, Elecda, Emelat and Emelectric that operate from regions I-VIII. PPL international subsidiary PPL Global agreed to sell Bolivian distributor Elfec and construction firm Integra in April and this month came to an agreement to sell its El Salvador distributor Del Sur.

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