Italian power utility Enel's board has approved the plan for the reorganisation of group operations in Iberia and Latin America as well as the new organization structure. The plan for reorganizing the Group’s activities in Iberia and Latin America includes refocusing the operations of Endesa as the leading company in the energy market in the Iberian peninsula, by means of a new business plan focused on the development of current business platforms as well as on the innovation of the energy model. Specifically, Enel would submit a proposal for the acquisition of 60.62% interest held directly and indirectly by Endesa in the Chilean company Enersis, parent company for the operations in Latin America.
The group aims to reorganise its activities, based on a matrix of Business Lines and Geographical Areas. The new Global Business Lines would be Global Infrastructures and Networks, Global Generation, Global Trading, Renewable Energy and Upstream Gas; the Regions and Countries business lines would be Italy, Iberia, Latin America and Eastern Europe. The phases of the reorganisation described above are expected to be completed during the last quarter of 2014, subject to the receipt of required authorisations for the completion of the transaction.
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