U.S. energy company and LNG operator Sempra Energy is set to continue its North American strategy by shedding its South American businesses.
The company said it is selling its 83.6-percent stake in Luz del Sur S.A.A. in Peru and 100 percent stake in Chilquinta Energía S.A. in Chile.
The planned sale also includes Sempra Energy’s interests in two energy-services companies, Tecnored and Tecsur, which provide electric construction and infrastructure services to Chilquinta Energía and Luz del Sur, respectively.
Sempra Energy expects the sale process to be completed by the end of 2019.
Luz del Sur is the largest Peruvian electric company, serving more than 4.9 million consumers in the southern region of Lima.
Chilquinta Energía is the third-largest distributor of electricity in Chile. The utility provides electricity to more than 2 million consumers in the cities of Valparaiso and Viña del Mar in central Chile, and also is active in the development and operation of electric transmission lines, Sempra said.