Enel reaches 65% of Enel Américas’ share capital

  • Enel has increased its shareholding in Enel Américas by an additional 2.7%, in line with Enel Group’s announced objective to increase its stake in the Group’s companies operating in South America, buying out minorities

 

Rome, August 18th, 2020 – Enel S.p.A. (“Enel”) has increased its stake in its Chilean subsidiary Enel Américas S.A. (“Enel Américas”) to 65% of the company’s share capital, by settling two share swap transactions (the “Swap Transactions”) entered into in April 2020 with a financial institution to acquire up to 2.7% of the share capital of Enel Américas, announced to the financial markets at the time.

Pursuant to the Swap Transactions, Enel has acquired:

·         1,432,455,895 shares of Enel Américas common stock; and

·         13,012,507 Enel Américas’ American depositary shares (“ADSs”), each representing 50 shares of Enel Américas common stock.

The above-mentioned securities represent, in the aggregate, 2.7% of Enel Américas’ share capital.

In accordance with the Swap Transactions, the total price paid for the shares of Enel Américas common stock and ADSs amounts to approximately 324 million US dollars, equal to around 275 million euros[1], and was funded through internal cash flow generation.

The above-mentioned transactions are in line with the Enel Group’s announced objective to increase its stake in the Group’s companies operating in South America, buying out minorities.

 

[1] Based on exchange rates as of August 14th, 2020. 

Enel share swap Enel Americas - Aug 2020

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