EXTRAORDINARY SHAREHOLDERS MEETINGS OF ENERSIS, ENDESA CHILE AND CHILECTRA APPROVE FIRST STAGE OF ENEL GROUP CORPORATE RESTRUCTURING IN LATIN AMERICA

Published on Saturday, 19 December 2015

Shareholders authorise spin-off of activities in Chile from those in the rest of Latin America

Santiago de Chile, December 19th, 2015 - Enel S.p.A. ("Enel") announces that the Extraordinary Shareholders’ Meetings of its Chilean subsidiaries Enersis S.A. ("Enersis"), Empresa Nacional de Electricidad S.A. ("Endesa Chile") and Chilectra S.A. ("Chilectra") held yesterday evening have approved the first phase of the corporate restructuring aimed at separating electricity generation and distribution operations in Chile from those in other Latin American countries.

More specifically:
1. The Enersis shareholders’ meeting approved the partial spin-off of their company, with the transfer of all assets held in Chile, including its shareholdings in Endesa Chile and Chilectra, and their associated liabilities, to a newly-established company called "Enersis Chile". The shares of Enersis Chile will be allocated to the shareholders of Enersis pro rata with their shareholdings.
The spin-off will be accompanied by a change in the name of Enersis to "Enersis Américas", which will retain ownership of all the assets held in other Latin American countries, including the investments in the newly established companies Endesa Américas and Chilectra Américas indicated below, and their related liabilities.
The split will be subject to the registration and publication of the shareholders' resolutions approving the partial spin-offs of Endesa Chile and Chilectra described below, and will take effect on the first day of the month following the month in which this condition is met;
2. The Endesa Chile shareholders’ meeting approved the partial spin-off of their company, with the transfer of all assets held in other Latin American countries (i.e., other than Chile) and their associated liabilities, to a new company called "Endesa Américas", while Endesa Chile will retain ownership of all assets held in Chile, and their related liabilities. The shares of Endesa Américas will be allocated to the shareholders of Endesa Chile pro rata with their shareholdings.
The split will be subject to the registration and publication of the shareholders' resolutions approving the spin-offs of Enersis and Chilectra, and will take effect on the first day of the month following the month in which this condition is met;
3. The Chilectra shareholders’ meeting approved the partial spin-off of their company, with the transfer of all assets held in other Latin American countries (i.e., other than Chile) and their associated liabilities, to a new company called "Chilectra Américas", while Chilectra will retain ownership of all assets held in Chile and their related liabilities. The shares of Chilectra Américas will be allocated to the shareholders of Chilectra pro rata with their shareholdings.
The split will be subject to the registration and publication of the shareholders' resolutions approving the spin-offs of Enersis and Endesa Chile described above, and will take effect on the first day of the month following the month in which this condition is met.


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Price Sensitive | December, 19 2015

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