Enel

M&A Activity • Dec 23, 2016

Informazione Regolamentata n. 0116-112-2016		Data/Ora Ricezione 23 Dicembre 2016 16:56:12	MTA
Societa'	:	ENEL
Identificativo Informazione Regolamentata	:	83340
Nome utilizzatore	:	ENELN05 - Giannetti
Tipologia	:	IROS 01
Data/Ora Ricezione	:	23 Dicembre 2016 16:56:12
Data/Ora Inizio Diffusione presunta	:	23 Dicembre 2016 17:11:13
Oggetto	:	Enel confirmed winner in tender for privatisation of Brazilian distribution company CELG
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ENEL CONFIRMED WINNER IN TENDER FOR PRIVATISATION OF BRAZILIAN DISTRIBUTION COMPANY CELG

• The Brazilian national development bank confirmed that Enel's subsidiary Enel Brasil won the tender for the acquisition of approximately 94.8% of the share capital of Goiás energy distributor Celg
• The financial offer was worth 2.187 billion Brazilian reais, equal to approximately 640 million US dollars

Rome, December 23rd, 2016 – Enel S.p.A. announces that its subsidiary Enel Brasil S.A. ("Enel Brasil") has been officially confirmed by the Brazilian national development bank ("BNDES") as winner of the tender for the acquisition of approximately 94.8% of the share capital of Celg Distribuição S.A. ("CELG"), an energy distribution company that operates in the Brazilian state of Goiás.

As announced on November 30th , the financial offer presented by Enel Brasil was worth 2.187 billion Brazilian reais (approximately 640 million US dollars). After the purchase of CELG, Enel Group's client base in Brazil is expected to increase to 10 million, from 7 million. At the same time, Enel Group's customers at global level are expected to increase to approximately 65 million from the current 62 million.

The signing and closing of the purchase agreement are both expected to take place in the first quarter of 2017, following approval from antitrust authority CADE and electricity regulator ANEEL. After closing of the purchase of approximately 94.8% of the company's share capital, a residual stake of around 5.1% of CELG will be offered to the company's current employees and retired employees, through a process that will allow Enel Brasil to purchase the shares not bought by current employees and retired employees, the details of which will be announced at a later date.

Established in 1956 and with its headquarters in Goiânia, CELG (which is currently a subsidiary of statecontrolled electricity company Eletrobras) operates in a territory that covers more than 337,000 km² through a concession that is valid until 2045. The sale of CELG is part of the privatisation of state assets launched by the Brazilian government. 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.

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