Enel filed for international arbitration in 2008 after it was denied a $100m purchase for control of LaGeo. LaGeo, founded in 1999, generates 23% of El Salvador’s electricity, according to the company website.
Tuesday, December 9, 2014
El Salvador:
Enel to Sell LaGeo Stake (Bloomberg)
Italian power company Enel will sell its 36% stake in geothermal energy group LaGeo to the El Salvadoran government for $280m, citing an agreement between Enel and El Salvador.
Enel filed for international arbitration in 2008 after it was denied a $100m purchase for control of LaGeo. LaGeo, founded in 1999, generates 23% of El Salvador’s electricity, according to the company website.
Enel filed for international arbitration in 2008 after it was denied a $100m purchase for control of LaGeo. LaGeo, founded in 1999, generates 23% of El Salvador’s electricity, according to the company website.