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UPDATE 1-Chile Enersis seeks OK for $8.02 bln capital increase
July 25, 2012 / 11:43 PM / 5 years ago

UPDATE 1-Chile Enersis seeks OK for $8.02 bln capital increase

(Adds details Of plan)

SANTIAGO, July 25 (Reuters) - Chile-based regional energy group Enersis said on Wednesday it will ask its shareholders to approve a capital increase of up to $8.02 billion, in a move that would consolidate it as the region’s largest private power company.

Its parent company, Spanish power utility Endesa, could participate in the planned capital increase with up to $4.86 billion in funding.

Enersis, which has generation, distribution and transmission operations in Argentina, Brazil, Chile, Colombia and Peru, will hold a shareholders meeting on September 13 to seek approval for the capital increase.

Through the capital increase, Enersis is aiming to take control of generation units in Argentina, Brazil and Peru.

The regional energy company has said it plans to invest around $6.8 billion in the next five years, including $2.5 billion on generation and $4.3 billion on distribution.

Endesa is majority owned by Italy’s Enel. (Reporting by Santiago Newsroom; Writing by Anthony Esposito; Editing by Richard Chang)

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