After a stock sale process, Enel Americasthe investment arm of the Italian firm in most of the continent, announced the sale of its distributor in Peru, Enel Distribution Peru SAA
As reported by Enel Américas through an essential fact sent to the Commission for the Financial Market (CMF) of Chile, it agreed to sell to China Southern Power Grid International all the shares owned by it issued by Enel Distribución Perú, equivalent to 83.15% of its capital stock, and by Enel X Perú, equivalent to 100% of its capital stock.
The Chinese company will pay approximately US$2.9 billion, equivalent to a total company value of approximately US$4 billion.
Additionally, the price is subject to the usual adjustments for this type of transaction, considering the time elapsed between the signing of the contract and the closing of the operation.
The execution of the operation is also subject to the approval of local regulators, such as Indecopi, and the competent Chinese authorities in terms of outbound direct investments (OID).
The acquisition will materialize directly, but China Southern Power Grid must carry out a subsequent takeover bid (OPA) in accordance with Peruvian law.
Source: Larepublica
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