Enel sets out to increase stake in Chilean subsidiary

Enel sets out to increase stake in Chilean subsidiary

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Italian energy company Enel said it will make an offer to buy another 10% stake in Enel Américas after its Chilean-listed subsidiary incorporates the renewable energy business EGP Américas. Enel will pay CLP140.00 ($0.19) per share, or the dollar equivalent for American depositary shares (ADSs), in a deal that could be worth €1.2 billion ($1.47 billion), the company said in a press release on Thursday. Enel added that it will fund the deal with "internally generated cash flows and existing debt

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