Niagara Energy S.A.C entered into an agreement to acquire an 86.96% stake in Enel Generación Peru S.A.A. and 100% stake in Compañía Energética Veracruz S.A.C. from Enel Perú S.A.C. and Enel Américas S.A. (SNSE : ENELAM) for $1.4 billion.
November 21, 2023
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Niagara Energy S.A.C entered into an agreement to acquire an 86.96% stake in Enel Generación Peru S.A.A. and 100% stake in Compañía Energética Veracruz S.A.C. from Enel Perú S.A.C. and Enel Américas S.A. (SNSE : ENELAM) for $1.4 billion on November 21, 2023. The transaction value will be subject to standard adjustments. Under the terms of the agreement, Niagara Energy will acquire Enel Perú's and Enel Américas' interests in Enel Generación Perú (approximately 66.5% and 20.46%, respectively), as well as Enel Peru's 100% stake in Compañía Energética Veracruz. The transaction is subject to certain customary conditions including obtaining clearance from the relevant Peruvian antitrust authority. The completion is anticipated to take place in the second quarter of 2024. The transaction is expected to reduce Enel?s consolidated net debt of approximately $1.74 billion from the 2023-2024 period.
John Franchini, Aaron Stine, Roland Estevez, Ross Shepard and Tim Fitzpatrick of Milbank LLP acted as Legal advisor to Actis. JPMorgan acted as financial advisor for Enel Spa. Luca Picone and Pierluigi Feliciani of Hogan Lovells, Luis Miguel Elías and Alberto Rebaza of Rebaza, Alcázar & De Las Casas acted as legal advisor to Enel. Héctor Zegarra, Sergio Amiel and Thomas Thorndike of Garrigues acted as legal advisor to Actis. Simpson Thacher is representing J.P. Morgan Securities LLC which acted as financial advisor to Enel S.p.A.
Enel Americas S.A., formerly Enersis Americas S.A., through its subsidiaries and jointly controlled entities, is engaged in the electricity generation, transmission and distribution businesses in Chile, Brazil, Colombia, Peru and Argentina. The Company operates through two segments: Generation and Transmission, and Distribution. The Company's Generation and Transmission segment operates through companies, including Central Comercializadora de Energia S.A. (Cemsa); Central Dock Sud S.A. (Dock Sud); Central Costanera S.A. (Costanera), and Hidroelectrica El Chocon S.A. (El Chocon). The Company's Distribution segment operates through companies, including Empresa Distribuidora Sur S.A. (Edesur); Ampla Energia e Servicos S.A. (Ampla), and Companhia Energetica do Ceara S.A. (Coelce). The Company is engaged in non-electricity business through its subsidiary, Servicios Informaticos e Inmobiliarios Ltda. (SIEI). It holds interest in Yacylec S.A., which is an electricity transmission company.
Niagara Energy S.A.C entered into an agreement to acquire an 86.96% stake in Enel Generación Peru S.A.A. and 100% stake in Compañía Energética Veracruz S.A.C. from Enel Perú S.A.C. and Enel Américas S.A. (SNSE : ENELAM) for $1.4 billion.
ENEL AMÉRICAS S.A. 
