Elqui ProjectElqui Conference Call
The proposal presented by Enel Chile’s Board of Directors seeks to incorporate, by merger, the non-conventional renewable energy generation assets that Enel Green Power Latin America holds in Chile. This, with the objective of consolidating the leadership of Enel Chile in the national electricity generation industry.
The initiative depends on the success of a Public Acquisition Bid for Shares (OPA) that Enel Chile will make for 100% of the shares of its subsidiary, Enel Generación Chile, that are owned by minority shareholders. This OPA will have a mixed character, that is to say, it will be paid partly in money and partly in shares issued by Enel Chile and will be subject to the condition that, through the OPA, Enel Chile will successfully obtain a percentage of control over Enel Generación Chile superior to 75% of its share capital.
Enel Chile's board of directors agreed to declare that the entire aforementioned operation will be treated as a related party transaction (OPR), which means that it will be subject to all the procedures and requirements set forth in Title XVI of the Corporations Act, as a mechanism to protect minority shareholders.
Matters to be voted on at the Extraordinary Shareholders’ Meeting of Enel Chile S.A. to be held on December 20, 2017
In accordance with Article 59 of Chilean Law N°18.046 on Corporations, I hereby inform you that the Board of Directors of Enel Chile S.A. (the “Company”) has made electronic versions of the documents that serve as background information regarding the matters to be voted on at the Extraordinary Shareholders’ Meeting available to all shareholders.
All shareholders may also obtain physical copies of the aforementioned documents at the Company’s office, located at Santa Rosa 76, 15th floor (Investor Relations Department), Santiago, Chile.
Full list of Documents of Interest HERE