• The financial offer was worth 2.187 billion Brazilian reais, equivalent to approximately 640 million dollars.
• The contract is expected to be closed in the first quarter of 2017
• With this acquisition Enel's customer base in Brazil will increase from 7 million to 10 million.

Enersis Americas announces that its subsidiary Enel Brasil has presented the best financial offer for the acquisition of approximately 94.8% of the share capital of Celg Distribuição SA ( 'CELG'), a company that operates in the State of Goiás, during a public tender organized by the Brazilian government via national development bank BNDES for the privatization of CELG.

The financial offer was worth 2.187 billion Brazilian reais, approximately 640 million dollars. Established in 1956 and with its main offices in Goiania, CELG operates in a territory that covers more than 337 thousand square kilometers, with a concession in force until 2045, and a base of 2.9 million customers.

'This is a significant achievement for Enersis Americas because it offers us a great growth opportunity in the largest market of the region and also to add value for our shareholders. With this acquisition Enel's customer base in Brazil would increase from 7 million to 10 million', says Luca D'Agnese, general manager of Enersis Americas.

The award of the offer is subject to a technical evaluation by BNDES in a first stage and then to the approval of the antitrust authority CADE and the electric regulator ANEEL. The government is expected to report the final outcome of the tender on December 20th . The signing of the purchase contract would take place in the first quarter of 2017.

After closing the purchase of approximately 94.8% of the company's share capital, a residual interest of around 5.1% of CELG will be offered to current employees and retired employees through a process that will enable Enel Brasil to acquire the shares not purchased by current employees and retired employees, the details of which will be announced at a later date.

Enersis SA published this content on 30 November 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 30 November 2016 18:35:11 UTC.

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