Enersis increase its stake in Edegel

Enersis has signed a US$413 million purchase contract to increase its stake in Peru's Edegel from 37.5% to 58.6%.  Once completed the operation, Enersis will control 58.6% of the peruvian power company.

The agreement was signed with Inkia Americas Holdings for the acquisition of all its share in Generandes Perú, which is Edegel's controller.

In march 2013, Enersis completed a capital increase where the company raised more than US$2,400 milliones to be used in M&A operations or to increase its stake in companies where it hold shares.  The
first step was the acquisition of 13.7% of Coelce through a tender offer bid, involving approximately US$241mn. Although some minorities did not tender their shares (ENI intended to buy up to 41% of Coelce), that was the first use of the proceeds in acquisitions in Latam. Edegel became the second one on today’s announcement. Edegel is the largest generator in Peru, comprising a total capacity of 1,658 MW.