Enel Will Proceed With Restructuring Plan Of Its Subsidiaries

Chilean firms Carey, Cariola, Díez, Pérez-Cotapos & Cía Ltda, Philippi Prietocarrizosa & Uría (Chile) and Claro & Cía are advising the Latin American subsidiaries of Italian utilities company Enel on corporate reorganisations that will see them divide Enel's assets in the region into two entities, one focused solely on Chile and the other on other Latin American countries.

The reorganisation was approved by a shareholders' meeting in December. The approval paves the way for Enel to split Chilean electricity distributor Chilectra into Chilectra Chile and Chilectra Américas. Enel will also split Chilectra's parent company Enersis and another Enel subsidiary, Endesa, into two entities, with one for Chile and another for the rest of Latin America. Endesa has hired Claro & Cía for the restructuring, Enersis is working with PPU, and Chilectra has hired Carey. Cariola Diez is advising Enel.