U.S. power company Sempra Energy said on Monday it would sell is Chilean businesses to China’s State Grid International Development Ltd for $2.23 billion in cash as part of its plan to exit South America and shore up capital. Sempra, much like other utilities companies, has been seeking to bolster its finances and increase its appeal to investors after wildfires in California exposed it to more legal liabilities. The company was under pressure from hedge fund Elliott Management Corp and investment firm Bluescape Group to scale back its global operations. …read more
Source:: Yahoo Finance
