Enel confirmed winner in tender for privatisation of brazilian Celg

Published on Friday, 23 December 2016

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 state-controlled 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.

All Enel press releases are also available in smartphone and tablet versions. You can download the Enel Corporate App at Apple Store.

Enel S.p.A. provides for the dissemination to the public of regulated information by using SDIR NIS, managed by BIt Market Services, a London Stock Exchange Group's company, with registered office at Milan, Piazza degli Affari, 6. For the storage of regulated information made available to the public, Enel S.p.A. has adhered, as from July 1st, 2015 to the authorized mechanism denominated “NIS-Storage”, available at the address www.emarketstorage.com, managed by the above mentioned BIt Market Services S.p.A. and authorized by CONSOB with the resolution No. 19067 of November 19th, 2014. From May 19th 2014 to June 30th 2015 Enel S.p.A. used the authorized mechanism for the storage of regulated information denominated “1Info”, available at the address www.1info.it, managed by Computershare S.p.A. with registered office in Milan and authorized by CONSOB with resolution No. 18852 of April 9th, 2014