Peru Selling Stake in Distriluz

The government of Peru plans to sell between 10%-30% of state-owned power transmission company Distriluz via an IPO on the local stock exchange, sources knowledgeable of the deal tell LatinFinance. The government has hired Celfin and Bancolombia, local consulting firm Macroconsult and local law firm Rossello Abogados to advise on the sale, but a timeline has not been established. A Peru-based banker doubts that international strategics or private equity players will be interested since only a minority stake is to be sold. Distriluz owns 4 subsidiaries: Electronorte, Electronoroeste, Hidrandina and Electrocentro. Distriluz’s subsidiaries reported combined revenues of PES800m ($288m) in 2009.