Italian oil and gas company Enel has agreed to divest its 99.09% stake in Enel Transmisión Chile to Sociedad Transmisora Metropolitana (STM) and its controlling company Inversiones Grupo Saesa for a $1.34bn equity consideration.

For this deal, Inversiones Grupo Saesa is serving as a guarantor.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

Once the deal received the approval of Chile’s antitrust authority Fiscalía Nacional Económica (FNE), the transaction will be carried out as a full takeover bid.

According to the deal, STM will purchase the entire stake held by Enel Chile in Enel Transmisión Chile and also repay the latter’s intercompany loans.

Enel Transmisión Chile operates 683km of transmission lines and manages 60 substations in Santiago’s metropolitan region.

See Also:

Out of 60 substations, 57 are owned by Enel Transmisión Chile while the other three are owned by third parties.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Part of Enel Group’s strategic plan, the divesture is expected to be completed by the end of this year.

As the second-largest electricity distributor in Chile, Inversiones Grupo Saesa supplies electricity to around 950,000 customers and operates 63,476km of distribution lines, 2,280km of transmission lines and 75 substations.

Equally owned by Ontario Teachers’ Pension Plan and Alberta Investment Management Corporation, Inversiones Grupo Saesa owns 275MW in wind, hydropower, and diesel generation.

Last month, Enel agreed to sell its 56.43% stake in PJSC Enel Russia to local investors PJSC Lukoil and private fund Gazprombank-Frezia for €137m.

Enel also decided to divest all its Russian power generation assets.