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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Antofagasta Plc | LSE:ANTO | London | Ordinary Share | GB0000456144 | ORD 5P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| -36.00 | -1.66% | 2,132.00 | 2,134.00 | 2,136.00 | 2,196.00 | 2,088.00 | 2,180.00 | 1,618,663 | 16:35:10 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Copper Ores | 6.32B | 835.1M | 0.8471 | 25.20 | 21.05B |
From May 2019 to May 2024
By Alex MacDonald
LONDON--Chilean copper producer Antofagasta PLC (ANTO.LN) said Thursday it has agreed to sell its water division to Colombia's Empresas Publicas de Medellin for 596 billion Chilean pesos ($960 million) in cash before taxes and transaction costs.
The sale is subject to certain conditions and is expected to be completed by the end of May.
The water unit, known as Aguas de Antofagasta S.A., provides potable desalinated water to domestic and commercial customers under a 30-year concession in Chile's Antofagasta region. The division contributed $63.6 million to Antofagasta's profit before tax last year, with earnings before interest, taxes, depreciation and amortization of $75.1 million. The division had gross assets of $212 million as of the end of last year.
Antofagasta's chief executive, Diego Hernandez, said the sale will allow Antofagasta to focus more closely on its mining business and to advance its various development projects, whilst strengthening its balance sheet.
Antofagasta's shares were up 4.2% at 775p a share as of 1343 GMT, while the FTSE 350 mining index was up 1.4%.
Write to Alex MacDonald at alex.macdonald@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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