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Chile: Enersis and Endesa restructuring goes ahead

By  |  August 18, 2015

ENDESA, Chile’s leading energy generator and their partner, Enersis, which is part of Italy’s Enel, have announced the names of the consulting team in charge of valuing both companies’ assets as part of a restructuring and merging transaction, approved by Chile’s competition authorities in late July. The move is expected to have wide repercussions as it draws a line between Chile’s energy production and distribution businesses.

Enersis’ valuations will be carried out by IM Trust, a well-renowned independent evaluator with experience in the market. Endesa’s own valuation will be handled by Asesorías Tyndall Ltd, which is tied to former JP Morgan executives.

Enersis’ planned restructuring has not been deemed a Transaction between Related Parties. However, competition authorities have imposed a set of conditions, including the aforementioned valuations. Both firms’ boards of directors have begun working with various banks in order to fulfil these obligations.

Source: Diario Financiero

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