(Tiper Stock Exchange) – Is in thethrough its subsidiary in Chile, has finalized the sale of its 99.09% stake in Enel Transmisión Chile to Sociedad Transmisora Metropolitana, a company that manages 683 km of transmission lines and 60 substations (57 owned by the company and three owned by third parties) in the Santiago metropolitan area. The operation is in line with the new Strategic Plan of the group, as it contributes to the focus on core businesses in Tier-1 countries, including Chile, exiting other businesses no longer aligned with the strategy, such as transmission activities.
Enel Chile completed the sale against a total consideration in equity terms of $1,399 million (including the price adjustment) corresponding to approximately $1,575 million in enterprise value. The operation generated a positive effect on consolidated net debt of the Enel group of approximately 1.5 billion euros.
The asset was bought by the Group Saesa, the main distributor of electricity in southern Chile. The completion of the transaction followed the fulfillment of some of the usual precedent conditions for this type of transaction and the approval by the Chilean antitrust authority Fiscalía Nacional Económica (FNE). The assignment was carried out in accordance with atakeover bid which STM and Mareco Holdings Corp. started on November 7 and closed on December 6, 2022.
(Photo: American Public Power Association on Unsplash)