Enel's Enersis buys controlling stake in Edegel

Published on Monday, 8 September 2014

The Chilean Enel Group subsidiary Enersis announced on 4 September that it had successfully completed the transaction for the control of Edegel, buying 21.1 percent of a Peruvian power generation company that has an installed capacity of just over 1.5 gigawatts.

Having fulfilled the conditions of a purchase agreement signed at the end of April with Inkia Americas Holdings Limited, Enersis now has a 58.6 percent direct and indirect shareholding in Edegel, a significant increase on the 37.5 percent it indirectly owned through its subsidiary Endesa Chile. 

The operation saw the acquisition of all shares owned by Inkia Americas Holdings Limited in Generandes Peru S.A (which had a 54.2 percent shareholding in Edegel) for $413 million, which is equivalent to roughly 39 percent of share capital.

The consolidation of Enersis' shareholding in Edegel is part of the business' programme of reacquiring minor shareholdings, which is being financed by funds from a capital increase carried out in March last year.