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Chile's CORFO has sold the majority of its stakes in the water utilities Essbio and Esval to the Ontario Teachers' Pension Plan (OTPP) for Ps260.6 billion ($563.4 million). The pension fund now owns 89.6% of Essbio, up from 51.1%, and 94.2% of Esval, up from 69.8%. Banchile, Bank of America Merrill Lynch and IM Trust ran the auction, which closed 15 July, for the seller.