New York, May 02, 2014 -- Moody's: On May 1, 2014, Inkia Energy (Inkia; Ba3, stable) announced that it had executed a Share Purchase Agreement (SPA) with Enersis SA. (Baa2, stable; Enersis). Under the terms of the latter, Enersis agreed to purchase Inkia's indirect economic interest in Edegel SAA (Edegel; not rated) for US$413 million. Inkia holds this interest through the holding company Southern Cone Power Peru S.A. (SCPLtd), a Restricted Subsidiary under the terms of Inkia's 8.375% Senior Notes (Ba3, stable) due 2021. With 1,657 MW installed capacity Edegel is the largest power generation company in Peru (Baa2, positive). The completion of the transaction is subject to the approval of the Peruvian competition authority, INDECOPI. A decision is expected in the third or fourth quarter of 2014.

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