Enel completes $1.52 bn offer to buy shares in Enel Americas

The Enel group launched an offer to buy Enel Americas common stock and American Depositary Shares (ADSs), representing 10% of the subsidiary’s share capital. Enel Americas finalised the merger by incorporation of Enel Green Power’s South and Central American renewable energy business on April 1. Enel purchased roughly 6.9 billion shares of the common stock and some 14.1 million ADSs after applying a proration factor of around 37.7%. The group spent $1.52 billion for the share purchase and settled the payment in cash today (April 20).

Source: Renewables Now