The shareholders of Enel's South American subsidiaries Enersis Americas, Endesa Americas and Chilectra Americas approved the second and final phase of the restructuring process to separate electricity generation and distribution operations in Chile from those in the other countries of Latin America.
The shareholders of the three above companies approved the merger by incorporation of Endesa Americas and Chilectra Americas into Enersis Americas, the consequent increase in the latter’s share capital and the change of its name to “Enel Americas S.A.”. Once the merger takes effect, Enersis Americas will own in a single entity all the equity investments currently held by Enersis Americas, Endesa Americas and Chilectra Americas.
The measure is aimed at improving the management of Enel’s assets in the region ; the group expects this new structure will generate US$400m in annual savings by 2019.
Enersis is one of the top electric companies in Latin America, with a generation capacity of around 15,800 MW and nearly 15 million customers for distribution.