Spain's Gas Natural buys 96.5 pct of Chile's CGE

Spanish gas and electricity firm Gas Natural (EGAS) said on Friday it had acquired 96.5 percent of Chile's biggest electricity distributor Compania General de Electricidad (CGE).

Gas Natural in mid-October said it would launch an all-cash bid for the company at 4,700 pesos (7.8927 US dollar) per share, after CGE's controlling shareholders agreed to sell their stakes.

The Spanish company said in a statement to the stock market regulator on Friday its acquisition of 96.5 percent of CGE was worth 2.55 billion euros.

Reporting by Sarah White