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AES Corp. has initiated a $1.06 billion tender offer to acquire Gener SA, Chile's second-largest electricity generator, as part of its strategy to enhance its presence in Latin America. The acquisition of Gener, which is one of the few remaining power firms in South America owned by locals, will add to AES's already-strong presence in the region. Gener was previously in discussions with TotalFina Elf SA, a French petroleum company, for a separate deal involving the purchase of most of Gener's Argentine assets and a 20% stake in the entire company.
Sunday, 5 November, 2000