Enel

M&A Activity • Apr 17, 2018

Informazione Regolamentata n. 0116-14-2018		Data/Ora Ricezione 17 Aprile 2018 18:58:37	MTA
Societa'	:	ENEL
Identificativo Informazione Regolamentata	:	102331
Nome utilizzatore	:	ENELN01 - Giannetti
Tipologia	:	2.2
Data/Ora Ricezione	:	17 Aprile 2018 18:58:37
Data/Ora Inizio Diffusione presunta	:	17 Aprile 2018 18:58:38
Oggetto	:	Enel launches a voluntary tender offer for the entire share capital of Eletropaulo in Brazil
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ENEL LAUNCHES A VOLUNTARY TENDER OFFER FOR THE ENTIRE SHARE CAPITAL OF ELETROPAULO IN BRAZIL

Rome, April 17 th, 2018 – Enel S.p.A. ("Enel") announces that, today, Enel Brasil Investimentos Sudeste, S.A. ("Enel Sudeste"), a company fully owned by Enel's Brazilian subsidiary Enel Brasil S.A. ("Enel Brasil"), has launched a voluntary tender offer for the acquisition of the entire share capital of Brazilian power distribution company Eletropaulo Metropolitana Eletricidade de São Paulo S.A. ("Eletropaulo"), for a price per share of 28.0 Brazilian reais and conditioned on the acquisition of a total number of shares representing more than 50% of the company's share capital (the "Offer").

The overall investment under the Offer is expected to total up to 4.7 billion Brazilian reais, equal to 1.1 billion euros at the current exchange rate. Enel's subsidiary Enel Americas S.A., which is Enel Brasil's controlling shareholder, will provide Enel Sudeste with the necessary financing for this investment.

The transaction is in line with the Enel Group's current strategic plan and, if successfully executed, would mark another step forward in strengthening the Group's presence in the Brazilian distribution sector.

The exercise of the voting rights of the shares acquired by Enel Sudeste in the Offer is subject to the approval of the Brazilian antitrust authority (the Administrative Council for Economic Defense or "CADE") and the exercise by Enel Sudeste of control over Eletropaulo is subject to the approval of the Brazilian energy regulator (Agência Nacional de Energia Elétrica or "ANEEL").

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