Duke Energy says goodbye to Central America

After eight months of shopping around assets, Duke Energy is getting out of the Latin American business.

The North Carolina-based power generator reached deals on Monday to sell all of its operations in South and Central America for about $1.6 billion in cash. China Three Gorges Corp. is buying its Brazilian plants for about $780 million, and New York-based private equity group I Squared Capital is purchasing its businesses in Peru, Chile, Ecuador, Guatemala, El Salvador and Argentina for about $850 million.

Source: Bloomberg