Enel Group perfected the trade of electricity transmission business in Chile
EnelS.p.A.(” Enel”) informs that its listed attachment Enel ChileS.A.( “ Enel Chile ”) has perfected moment the trade of its entire99.09 stake in the share capital of listed Chilean power transmission company Enel Transmisión ChileS.A.( “ Enel Transmisión Chile ”) to Sociedad Transmisora Metropolitana SpA( “ STM ”), controlled by Inversiones Grupo Saesa Ltda( “ Grupo Saesa ”). Following the fulfillment of certain conditions precedent customary for these kinds of deals and after the blessing from Chilean antitrust authority Fiscalía Nacional Económica( FNE), the trade was carried out in compliance with a public tender offer that STM and Mareco effectsCorp. launched on November 7th and ended on December 6th, 2022.
STM paid an overall equity consideration of,399 million US bones
for the entire stake held by Enel Chile in Enel Transmisión Chile – equal to around,575 million US bones
of enterprise value – including the price adaptation grounded on an interest rate from January 1st, 2022 until the public tender offer’s launch date. As part of the sale, STM has also repaid Enel Transmisión Chile’s intercompany loans.
The overall sale generated a positive effect on the Group’s consolidated net debt of around1.5 billion euros and a positive impact on reported Group net income of around 435 million euros. The sale won’t have any impact on the Group’s ordinary profitable numbers.
The sale is in line with the Enel Group’s current Strategic Plan, as it contributes to the ideal of fastening on core businesses in league- 1 countries, which include Chile, exiting from other businesses which are no longer aligned with its strategy, similar as transmission conditioning.
Enel Transmisión Chile operates 683 km of transmission lines, managing 60 substations( 57 possessed and three possessed by third parties), in Santiago’s metropolitan area.
Grupo Saesa is the largest electricity distributor in southern Chile. It supplies electricity to around,000 guests and operates,280 km of transmission lines and 75 substations. In addition, it owns further than 275 MW of power generation capacity. The regulators of Grupo Saesa are the Canadian pension finances Ontario preceptors’ Pension Plan( OTPP) and Alberta Investment Management Corporation( AIMCo), with a 50 stake each.
Enel, which celebrates its 60th anniversary this time, is a transnational power company and a commanding intertwined player in the global power and renewables requests.
At global position, it’s the largest renewable private player, the foremost network driver by number of end druggies and the biggest retail driver by client base. The Group is the worldwide demand response leader and the largest European mileage by ordinary EBITDA( 1).
Enel is present in 30 countries worldwide, producing energy with around 93 GW of total capacity.
Enel Grids, the Group’s global business line devoted to the operation of the electricity distribution service worldwide, delivers electricity through a network of around2.3 million kilometers to roughly 76 million end druggies. The Group brings energy to further than 70 million homes and businesses. Enel’s renewables arm Enel Green Power has a total capacity of further than 56 GW and a generation blend that includes wind, solar, geothermal, and hydroelectric power, as well as energy storehouse installations, installed in Europe, the Americas, Africa, Asia, and Oceania. Enel X Global Retail, Enel’s global advanced energy services business line, has a total capacity of around8.2 GW of demand response managed encyclopedically and has installed 65 MW of before- the- cadence storehouse capacity. In addition, Enel X Way is the Group’s new company completely devoted to electric mobility, managing nearly,000 public and private EV charging points worldwide, both directly and through interoperability agreements.
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