Enel Increases Stake in Subsidiary Enel Americas to 62.3%
May 28 2020 - 2:19AM
Dow Jones News
By Olivia Bugault
Enel SpA said Thursday that it has increased its stake in its
Chilean subsidiary Enel Americas to 62.3%.
The Rome-based energy company has bought 5% of Enel Americas'
share capital for a total of roughly $701 million by settling two
share swap transactions, it said.
The capital increase is in line with its strategy to buy out
minorities in South American subsidiaries and Enel intends to
increase its stake further, it said.
"As announced to the financial market, Enel entered into two
further share swap transactions in April 2020 to acquire, on dates
that are expected to occur no later than the end of 2020,
additional shares of Enel Americas' common stock and American
Depositary Shares by up to a further 2.7%, reaching up to 65% of
the company's share capital," Enel said.
Write to Olivia Bugault at olivia.bugault@wsj.com
(END) Dow Jones Newswires
May 28, 2020 02:04 ET (06:04 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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