Purchase and Sale Agreement for Niagara Energy – Enel Generation Peru Acquisition by Actions

2024-04-19 03:10:00

As part of the purchase and sale agreement for Niagara Energy – the British group Actions– takes over 100% of the assets of Enel Generation Peru, Enel America sold to In Peru all its shares in the aforementioned power production company and which corresponds to approx. 20.46% of the share capital. The sale was made directly.

In accordance with Enel Americathe transaction was at the same price offered by the UK fund Actions of Enel Generation Peru, i.e. at USD 0.4680 per share. Thus, all the shares issued in the public takeover offer can be sold (OPA) previously performed by Niagara energy to acquire 100% of the shares of one of the main producers of electricity in Peru.

“The sale was carried out in accordance with the option agreed in ‘Purchase and sale agreement‘ celebrated between Enel America y In Peruas sellers, and Niagara energyPeruvian company controlled by the global investment fund Actionsas a buyer“, communicated Latin American subsidiary of the Italian Enel to The Commission for the Financial Market of Chile.

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Purchase and sale operation of Enel Generation Peru one Niagara energy It has an estimated value of $1.4 billion and the transaction is expected to be completed by the second quarter of 2024.

Process ongoing

The previous takeover bid launched by Niagara energy to take over the shares in Enel Generation Peru continues following April 12 Supervision of the stock market (SMEs) decided to cancel the temporary suspension issued on March 27. In this way, the operation continues so that it can be carried out.

Within the framework of this buying and selling process, AFP Primeone of its minority shareholders, stated that the bidder’s price did not reflect the current market value of the shares in Enel Generation Peru, which is 23.3% above the public offer. Furthermore, they believed that if the operation was completed, they would not be able to participate in the future growth of the company.

Given this position, Enel Generation Peru replied that “It is up to each individual shareholder to decide whether they want to accept Previous OPAsell your shares, or decide to reject it, in which case you can remain a shareholder and participate in the company’s future performance. company“.

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