Enel Perú completes sale of its shares to the Chinese company CSGI

In it Peru has completed the sale of 83.15% of its shares to North Lima Power Grid Holding, a subsidiary of China Southern Power Grid International (CSGI). This agreement, valued at approximately $2.9 billion, also includes the transfer of 100% of the shares of Enel signed in April 2023.

Enel, one of the main players in the energy market in Peru, has handed over control of its operations to CSGI. This agreement reinforces its presence and expansion in Latin America, marking a new beginning for Enel Distribución Perú.

What will be the changes in Enel’s management structure?

With the acquisition by CSGI, significant changes have been implemented in the management structure of Enel Distribution Peru. During the Board meetings held on the same day of the transaction, the resignations of several directors were accepted and new members were appointed to take their places.

Marco Fragale, who served as director and president, has been replaced by Yu Wu. Other changes include the resignation of Carlos Alberto Solís Pino and María del Carmen Soraya Ahomed Chávez, who were replaced by Yingpeng Shi and Hua Yapo, respectively. In addition, Milagros Lozada Gobea left her position as director and vice president, being replaced by Yu Xue, who will also assume the role of vice president.

The management restructuring also includes the resignation of Marco Fragale as general manager, a position that will now be occupied by Carlos Alberto Solís Pino. Solís Pino, who has been linked to the company since 1998 and has held various roles, including deputy manager of Large Clients and Commercial manager, will assume executive leadership of the company under the new Chinese administration.

The next steps after the sale of Enel shares

One of the first steps of the new administration of CSGI has been to call the General Meeting of Shareholders to address crucial issues such as the change of name, purpose and registered office of the company, in addition to the modification of article 1 of the corporate statute. and the granting of powers to formalize agreements.

CSGI’s strategic move to acquire Enel Distribución Perú is part of its expansion in Latin America. The region is considered strategic due to its growing energy demand and the potential for growth in energy infrastructure. With this acquisition, CSGI expands its presence in Peru and strengthens its ability to compete in the region’s energy sector.