Enel Generación Chile informs

Published on Tuesday, 28 February 2017

Santiago, February 28, 2017 - Enel Generación Chile announces that the Directors' Committee of the company gave to the Board its opinion regarding the proposal for Enel Generación Chile to access up to 40% of Enel Green Power Chile's assets in operation, under construction and in the pipeline.

The Committee's opinion is that, in its current form, this framework agreement would not be in the company's interest. The Committee in turn proposed an agreement that would give Enel Generación Chile the option to acquire, at market value, at least 50.1% of the shares of EGP Chile's project entities.

The Board of Enel Generación Chile asked its management to communicate to EGP Chile the opinion of the Directors Committee, and its counter proposal. The Board of Directors notes the reply from Enel Green Power Chile, which states that the agreement is consistent with the negotiation commitments of its matrix Enel SpA presented on November 23, 2015, therefore EGP Chile is given by Informed of the unavailability of Enel Generación Chile to continue in this agreement.

As a result, with no agreement between the parties, there is currently no proposal under evaluation by Enel Generación Chile´s Board for an agreement with EGP Chile.