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.

Read more at Reuters

By Giulio Piovaccari and Giulia Segreti

Image Source