Holdco Sells $175 AES Gener Stake

AES subsidiary Inversiones Cachagua has raised $175m from the sale of a 9.55% stake in AES’ Chilean unit AES Gener in a secondary sale on the Santiago stock exchange, it says. The transaction leaves it with a 70.61%, after having sold about 20% in previous secondary sales. The proceeds will go toward Cachagua’s subscription of its proportionate share in Gener’s proposed primary equity offering of up to $300m. Gener shareholders are set vote November 19 on the primary offering proposal. Celfin managed the transaction.