Twenty line up to buy Elektra Noreste

Some 20 companies have shown their interest in buying US company Constellation Power's 51% stake in Panamanian distributor Elektra Noreste, newspaper La Prensa reported. Constellation Power paid US$88.8mn for the stake in 1998, when it was awarded a 15-year concession. The interested companies include US, Colombian, and Spanish companies, according to sources close to the process. Constellation Power has attributed its decision to sell Elektra Noreste as part of its corporate strategy to divest all its Latin American operations. The company has already sold its assets in Guatemala, Curaçao and Bolivia.