From Tuesday, July 10th to Monday, July 16th, 2018
Odebrecht achieves agreement for the sale of Chaglla
Sources of the financial system informed Gestión that Odebrecht would have reached a consensus with the China Three Gorges consortium and the banks involved in the hydroelectric project, in order to continue with the sale process which had been suspended due to the publication of the Law N ° 30737 and its Regulation, laws that regulate the sale of assets of certain construction companies, including Odebrecht.
The conversations held involved the need to have a confirmation from the Ministry of Economy and Finance about the destination of the funds that will be held in the special trust administered by the Banco de la Nación, which will be constituted with the retention 50% of the final sale price of the project. The financial entities involved require this state guarantee in order for Odebrecht and the Chinese buyer's consortium to sign a new acquisition agreement and initiate the application for approvals before the Ministry of Justice and Human Rights.