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Enel to sell LaGeo stake to El Salvador

Wednesday, December 10, 2014

Italian power company Enel will sell its 36 percent stake in geothermal energy group LaGeo to El Salvador's government for $280 million, Salvadoran media reported.

The agreement ends litigation between Enel and El Salvador for control of LaGeo.

Enel filed for international arbitration in 2008 after it was denied a $100 million purchase for control of LaGeo.

Source: Bloomberg