Enel said on Monday it had launched a voluntary tender offer to buy up to 10% of shares of its Chilean-listed unit Enel Americas as part of its effort to reorganise its non-conventional renewable energy business in Latin America.
To complete the purchase, Enel will spend up to around 1,065 billion Chilean pesos, equal to around 1.2 billion euros ($1.43 billion), the Italian utility said in a statement.
The offer, which is set to run from Monday to April 13, will also involve Enel America’s American Depositary Shares (ADS), it added.
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By Giulio Piovaccari and Giulia Segreti
