Enel has increased its stake in its Chilean subsidiary Enel Chile S.A. to 64.9% of the company’s share capital, by settling two share swap transactions entered into in December 2019 with a financial institution to acquire up to 3% of the share capital of Enel Chile.
Pursuant to the Swap Transactions, Enel has acquired:
- 1.502.106.759 shares of Enel Chile common stock;
- 11.457.799 Enel Chile American depositary shares, each representing 50 shares of Enel Chile common stock.
The above-mentioned securities represent, in the aggregate, 3% of Enel Chile’s share capital.
In accordance with the Swap Transactions, the total price paid for the shares of Enel Chile common stock and ADSs amounts to approximately 174 million US dollars, equal to around 154 million euros, 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.
