Hydroelectric assets sold for $46mn

Canadian mining company Dia Bras Exploration Inc. has completed the sale of its hydroelectric assets to Volcan Compania Minera S.A.A. and its Peruvian subsidiary, Sociedad Minera Corona S.A., for $46.78 million.

Dia Bras will receive $24.51 million net of third party payments as a result of the sale of the hydroelectric assets, which gives the company an 81.7 percent equity stake in Corona.

Dia Bras and Corona signed a memorandum of understanding on Feb. 21, 2012 and completed the sale on March 1. Dia Bras Peru S.A.C. acquired Minera Corona S.A. in May 2011.

Read more mergers and acquisitions news

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...