Enel launched a partial takeover bid of 1,200 million for up to 10% of Enel Américas

Madrid, March 15 (Europe Press) –

Enel has launched a voluntary Partial Acquisition (OPA) offer of up to 10% of the outstanding capital of Enel Américas as part of a company reorganization aimed at integrating its renewable energy business in Central and South America (excluding Chile) into this. A listed Chile subsidiary, whose maximum total value will reach 1065 billion Chilean pesos (1,200 million euros), the Italian company said in a statement.

The voluntary takeover offer will be effective Monday through April 13, according to the multinational company, which will launch a takeover proposal in the United States, to buy shares held by US citizens and the underlying securities (ADS), too. As in Chile, they offer 140 Chilean pesos in cash per share.

Enel specified that the maximum total payments, assuming the offer is accepted in full, would be approximately 1065 trillion Chilean pesos (equivalent to 1,200 million euros) and would be financed by the resulting internal cash flows and current debt capacity.

The Italian company has warned that the offer is conditional on the effectiveness of the merger by merging EGP Américas into Enel Américas, which is expected to take place on April 1, 2021. Likewise, the deal is also subject to compliance with Chile. And US and other applicable regulations,