ENEL €8.4 billion acquisition of a 60.62% stake in Enersis

Overview:

• Enel—an Italian multinational manufacturer and distributor of electricity and gas—has bought a 60.62% stake in the Chilean company Enersis for €8.4 billion.
• Enel proposed that Endesa—the seller—distributes an extraordinary cash dividend to shareholders equal to the value of the sale—it owns 92.06% of Endesa.
• The deal is part of a reorganisation that is focused on stripping out Endesa's Latin American assets to give Enel more direct control over them as it tries to reduce debts.

Adam Majeed - Regional editor