Enel Completes Corporate Reorganization in Chile
26 Marzo 2018 - 1:41AM
Noticias Dow Jones
By Marc Bisbal Arias
Enel SpA (ENEL.MI) said Monday that it has completed its
corporate reorganization in Chile and is raising its stake in Enel
Chile SA (ENELCHILE.SN) to about 62% from 60.6% as a result.
The company also said that Enel Chile has increased its stake in
subsidiary Enel Generacion Chile SA (ENELGXCH.SN) to 93.55% from
60% through a public tender offer to acquire the shares held by
minority shareholders. A previous limit in share ownership that
prevented any shareholder from owning more than 65% of Enel
Generacion Chile's shares has been lifted.
The transaction is part of the company's simplification goal,
which is one of the five pillars of Enel's 2018-2020 strategic
plan.
Enel said it expects to keep reducing the number of operating
companies in South America to fewer than 30 by 2020, down from the
53 the company operated in the region at the end of last year.
Write to Marc Bisbal Arias at marc.bisbalarias@dowjones.com
(END) Dow Jones Newswires
March 26, 2018 03:26 ET (07:26 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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