Enel to Sell Chilean Electricity-Transmission Business for $1.3 Billion
July 28 2022 - 11:08AM
Dow Jones News
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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