ROME (dpa-AFX) - Enel S.p.A. said that it has increased its stake in its Chilean subsidiary Enel Américas S.A. to 56.42% from 51.8% of the company's share capital, by settling two share swap transactions entered into in October 2018 with a financial institution to acquire up to 5% of the share capital of Enel Américas, as announced to the financial markets at the time.
Enel has acquired 1.71 billion shares of Enel Américas common stock; and 18.93 million Enel Américas American depositary shares, each representing 50 shares of Enel Américas common stock; representing, in the aggregate, 4.62% of Enel Américas' share capital.
The price paid for the shares and ADSs amounts to approximately 198 billion Chilean pesos (116 Chilean pesos per share) and 164.7 million US dollars or 8.7 US dollars per ADS), respectively, or approximately 412 million euros in the aggregate.
The Swap Transaction in respect of shares of Enel Américas common stock remains in place, in view of the initial target stake increase of up to 5%.
In relation to the announced proposal of the capital increase of Enel Américas for an amount of up to 3.5 billion US dollars, which will be submitted for approval to the Extraordinary Shareholders' Meeting of Enel Américas called for April 30th, 2019, it is Enel's intention to vote in favour of such proposal; if approved, and subject to market conditions, Enel also intends to subscribe shares of Enel Américas' corresponding to its current stake in the company, i.e. 56.42%, by exercising preemptive subscription rights.
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