Enel to Merge South American Renewable Assets Into Enel Americas
22 September 2020 - 10:42AM
Dow Jones News
By Cecilia Butini
Enel SpA said Tuesday that its Chilean subsidiary Enel Americas
SA is seeking approval for a merger of the group's renewable assets
in some Central and South American countries.
The proposed restructuring--which is supposed to increase Enel's
stake in Enel Americas--seeks to integrate the Enel Group's
non-conventional renewable assets in Argentina, Brazil, Colombia,
Costa Rica, Guatemala, Panama and Peru into Enel Americas, the
company said.
The merger will allow for simplification of the group's
corporate structure and will align Enel Americas's business set-up
to the rest of the group, Enel said.
Enel has expressed a favorable preliminary opinion to the
reorganization, it said, provided that it ensures a financial
position to Enel Americas to allow for future development of the
renewable business.
The company also said the final terms and conditions of the
transaction will need to be submitted for approval to the
shareholders meeting of Enel Americas.
Write to Cecilia Butini at cecilia.butini@wsj.com
(END) Dow Jones Newswires
September 22, 2020 04:27 ET (08:27 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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