By Cristina Roca 
 

Enel SpA (ENEL.MI) said Tuesday that it has entered into two share-swap transactions with a financial institution to increase its stake in Enel Americas SA (ENELAM.SN), its Chilean subsidiary.

The Rome-based energy company currently holds 51.8% of Enel Americas shares and said the transaction will allow it to increase its stake by up to 5% by the end of next year. The transaction will be funded through internal cash-flow generation, Enel said.

Enel is buying out minorities in South America as part of its 2018-2020 strategic plan, it said in a press release.

 

Write to Cristina Roca at cristina.roca@dowjones.com; @_cristinaroca

 

(END) Dow Jones Newswires

October 16, 2018 02:14 ET (06:14 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.
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