SANTIAGO -(Dow Jones)- Chilean fuel-and-forestry conglomerate Empresas Copec SA (COPEC.SN) increased its indirect controlling stake in Colombian fuel company Terpel to 39.1% from 26.4%, Copec said Friday.
Copec purchased a 14.4% stake in Colombian holding company Sociedad de Inversiones en Energia SA (SIE.BO), which controls Terpel, for $181 million.
Last year, Copec paid $285.5 million for a 56.2% indirect stake in Proenergia Internacional SA (PROENERGI.BO), which in turn holds a majority stake in Sociedad de Inversiones en Energia.
With the indirect stake in Terpel, Copec expanded outside Chile's borders into Colombia, Ecuador and Panama.
To comply with Chilean antitrust regulations, Copec sold Terpel's assets in Chile to the local Luksic family, through its Quinenco SA (QUINENCO.SN) holding company, for $320 million.
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