Maruben and an infrastructure fund established by Toesca Administradora General de Fondos have entered an agreement to acquire natural gas distribution company GasValpo.
GasValpo offers services to around 100,000 residential, commercial and industrial customers, with a market share of around 12%. The company primarily provides services to the Valparaiso Region metropolitan area, Chile.
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Marubeni owns natural gas distribution businesses in Australia and Portugal. It has operated these since 2011 and 2016, respectively.
Its venture into Chile will be the first time the company has been a major shareholder in the natural gas distribution sector.
The acquisition will enable the company to access new markets in South America and expand its portfolio in the Americas, Europe and Australia.
The acquisition will also allow Marubeni to diversify its existing portfolio in the Chilean infrastructure sector, including its copper business, water and wastewater businesses, and a photovoltaic (PV) solar project business.
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By GlobalDataMarubeni also plans to further develop GasValpo, working closely with the current management team to explore growth.
