Enel to Increase Stake in Chilean Subsidiary
June 28 2019 - 03:11AM
Dow Jones News
By Anthony Shevlin
Enel SpA (ENEL.MI) said Friday it plans to further increase its
stake in its listed Chilean subsidiary Enel Americas SA
(ENELAM.SN).
The Italian power company said it plans to increase its stake by
up to 5%. Enel currently holds a 56.8% stake in the Chilean
business.
Enel said the acquisition of the new shares is expected to occur
no later than the third quarter of 2020 and is in line with its
goal to increase its interest in companies operating in South
America.
The deal will be done via two new share-swap transactions and
Enel's payment obligations will be funded through internal
cash-flow generation, it said.
Write to Anthony Shevlin at anthony.shevlin@dowjones.com
(END) Dow Jones Newswires
June 28, 2019 02:56 ET (06:56 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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