Origin Takes Majority Stake In Xstrata's Chile Hydro Co.

Law360, New York (April 3, 2012, 1:39 PM EDT) -- Xstrata PLC on Tuesday sold a controlling 51 percent stake in its Chilean hydroelectric development company to Australian energy heavyweight Origin Energy Ltd. for an undisclosed amount.

Origin will pump up to $150 million over the next seven years into the development of three hydroelectric plants with a combined generating capacity of 1,000 megawatts, the companies said in parallel statements issued Tuesday.

The companies did not disclose the value of Origin's stake in the company, Energia Austral, or the financing terms. Representatives for the parties could...
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