Enel

Regulatory Filings • Feb 14, 2017

Informazione Regolamentata n. 0116-13-2017		Data/Ora Ricezione 14 Febbraio 2017 19:29:15	MTA
Societa'	:	ENEL
Identificativo Informazione Regolamentata	:	85107
Nome utilizzatore	:	ENELN04 - Giannetti
Tipologia	:	IROS 01
Data/Ora Ricezione	:	14 Febbraio 2017 19:29:15
Data/Ora Inizio Diffusione presunta	:	14 Febbraio 2017 19:44:16
Oggetto	:	Enel closes acquisition of Brazilian distribution company CELG
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ENEL CLOSES ACQUISITION OF BRAZILIAN DISTRIBUTION COMPANY CELG

Enel's subsidiary Enel Brasil has finalised the purchase of approximately 94.8% of Goiás energy distributor CELG's share capital for a total consideration of 2.187 billion Brazilian reais (approximately 640 million US dollars)

Rome, February 14th, 2017 – Enel S.p.A. ("Enel") announces that its subsidiary Enel Brasil S.A. ("Enel Brasil") has today finalised the acquisition of approximately 94.8% of the share capital of Celg Distribuição S.A. ("CELG"), a power distribution company that operates in the Brazilian state of Goiás, for a total consideration of 2.187 billion Brazilian reais (approximately 640 million US dollars). The remaining stake of around 5.1% of CELG will be offered to the company's current and retired employees, through a process that will allow Enel Brasil to purchase the shares not bought by those employees.

The purchase of CELG increases Enel's Brazilian customer base to 10 million from 7 million, while also increasing the number of customers served by the Group globally to approximately 65 million.

Enel Brasil won the public tender for the privatisation of CELG, which was held last November by the Brazilian government via national development bank BNDES. Today's closing follows approval from Brazil's antitrust authority CADE and electricity regulator ANEEL.

"The completion of the acquisition of CELG is an important milestone for our growth strategy in Latin America," said Enel CEO Francesco Starace. "Through this transaction, we are further expanding our presence in the Brazilian distribution segment, making Enel Brasil the country's second largest power distributor. Moreover, after Italy and Iberia, Brazil becomes the third largest market for the Group in terms of customers. We are fully committed to making the most of CELG's growth potential, leveraging our technology expertise and our global best practices to strengthen the company's service to its customers."

Following the closing of the transaction, a General Shareholders' Meeting of CELG will be held to appoint the company's new Board of Directors.

Established in 1956 and headquartered in Goiânia, CELG (previously approximately 51% owned by the Federal Republic of Brazil via its controlled electricity company Eletrobras, and around 49% by the State of Goiás via its holding company Celg-Par) operates in a territory that covers more than 337,000 km² through a concession that is valid until 2045. CELG's market includes 237 municipalities with a combined population of about 6.2 million people. CELG's customer base of 2.9 million is served via a network over 200,800 km long. The sale of CELG is part of the Brazilian government's programme for the privatisation of state assets.

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