Brazil
News

Endesa Chile approves creation of local holding company

Bnamericas
The board of Chilean generator Endesa (NYSE: EOC) has unanimously approved the creation of a new holding company based in Brazil called Endesa Brasil, Endesa said in a statement. Endesa Brasil will group all of the Brazilian assets of Endesa and parent company Enersis. Enersis' board and the board of Enersis' parent Endesa Internacional approved the creation of Endesa Brasil last week. The aim is to simplify the ownership structure of Endesa and Enersis' assets in Brazil, improve cash flow stability, better access third-party financing and create new investment opportunities and operating synergies, the statement said. The ownership of Endesa Brasil will be as follows: Endesa Internacional 23.7%, Enersis 23.5%, Endesa Chile 33.6%, Chilectra 19.2%. The new company will receive US$1.35bn of capital corresponding to the equity of its subsidiaries as of December 31, 2004. Endesa Brasil will assume ownership of distributors Ampla and Coelce, generators Fortaleza and CDSA and Brazil-Argentina interconnection company Cien.

Subscribe to the leading business intelligence platform in Latin America with different tools for Providers, Contractors, Operators, Government, Legal, Financial and Insurance industries.

Subscribe to Latin America’s most trusted business intelligence platform.

Other projects in: Electric Power (Brazil)

Get critical information about thousands of Electric Power projects in Latin America: what stages they're in, capex, related companies, contacts and more.

Other companies in: Electric Power (Brazil)

Get critical information about thousands of Electric Power companies in Latin America: their projects, contacts, shareholders, related news and more.

  • Company: Governo do Estado do Ceará
  • The Ceará state government covers 184 municipalities and 8.7mn residents in northeast Brazil. It develops policies and projects through its infrastructure, water resources, educ...
  • Company: ENGIE Brasil Energia S.A.  (ENGIE Brasil)
  • ENGIE Brasil Energia S.A. is a publicly-held power generation company, headquartered in Florianópolis in Brazil's Santa Catarina state. The company is a public utility concessio...
  • Company: Inova Energy Engenharia Ltda.  (Inova Energy)
  • Inova Energy Engenharia Ltda. (Inova Energy) is a Brazilian consulting and engineering company focused on the energy and infrastructure sectors, also participating in the areas ...