Extraordinary shareholder´s meeting of Enel Américas approves merger with EGP Américas

Published on Friday, 18 December 2020

    •    Through this operation, Enel Americas will incorporate the development of renewable energies and expand its geographical perimeter to Central America.

    •    The merger is to be completed during the first semester of 2021.

Santiago, December 18th, 2020. The Extraordinary Shareholders' Meeting of Enel Americas held this morning approved the merger that aims to allow Enel Americas to control and consolidate the ownership of the business and non-conventional renewable energy generation assets that Enel Green Power S.p.A. develops and owns in Central and South America (except for Chile). This merger shall take place through the incorporation of Enel Green Power Americas into Enel Americas.

It is estimated that the installed capacity for non-conventional renewable energies would be 7.8 GW by 2024.

“This merger will allow Enel Americas to have access to new growth opportunities in renewables generation, diversifying its business, and thus strengthening its regional leadership in the energy transition. We are grateful to our shareholders for supporting a transaction that creates value for all,” stated Maurizio Bezzeccheri, CEO of Enel Americas.

The Shareholders' Meeting also approved the modification of the company's bylaws, in particular the limitations and restrictions established in the bylaws through the application of Title XII of Law Decree 3500, particularly the one stating that a shareholder should not be able to concentrate more than 65% of the capital with voting rights in Enel Americas. The Investment and Financial Policy remains unchanged in the corporate governance structure of Enel Americas.

The merger will be subject, among other condition, to the fact that the right of withdrawal eventually exercised by dissident shareholders of Enel Americas as a result of the merger does not exceed 10% of the shares issued with voting rights.

Enel Américas is the largest private electric power generating company in Latin America with an installed capacity of 11.3 GW and more than 27 million customers in the region. Through its subsidiaries it generates, transmits, and distributes energy in Argentina, Brazil, Colombia, and Peru.