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Duke Energy says goodbye to Central America

Wednesday, October 12, 2016

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