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Share Name Share Symbol Market Type
Enel Spa BIT:ENEL Italy Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.048 0.93% 5.222 5.213 5.216 5.24 5.151 5.221 21,176,859 16:35:10

Enel to Sell Chilean Electricity-Transmission Business for $1.3 Billion

28/07/2022 5:08pm

Dow Jones News


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   By Cristina Roca 
 

Enel SpA has agreed to sell its Chilean electricity transmission business for $1.35 billion, it said Thursday.

The Rome-based energy company's listed Chilean subsidiary agreed to sell its 99.09% stake in Enel Transmision Chile to Sociedad Transmisora Metropolitana SpA and its controlling company Inversiones Grupo Saesa Ltda.--Chile's second-largest electricity distributor by geographic coverage.

The deal implies an enterprise value of $1.53 billion for the business, subject to adjustment.

STM plans to launch a full takeover bid, after which it will repay the business's intercompany loans.

 

Write to Cristina Roca at cristina.roca@wsj.com

 

(END) Dow Jones Newswires

July 28, 2022 11:53 ET (15:53 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.

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