2023-04-25 00:34:23
The company Enel Generation Peru (EGPerú) reported that its General Shareholders’ Meeting has approved the merger of its electricity generation operations in the country. Thus, said firm absorbs companies from the same economic group: Enel Green Power (EGP), Empresa de Generación Eléctrica Marcona (Egelmarsac) and Empresa de Generación Eléctrica Los Pinos (Egepisac).
In an important fact presented this Monday before the Superintendency of the Stock Market (SMV), the company reported that said agreement was taken by Enel Generación Perú last Monday.
Partial sale agreement of Enel
The approval of the merger takes place after Enel Américas, through its subsidiary Enel Perú, reached an agreement with China Southern Power Grid International (CSGI), to sell it the shares it owns in the distribution and energy supply company Enel Distribution Peru SAA and Enel X Peru SAC The price agreed for these assets is US$ 2,900 million. This agreement does not commit the sale of the generation operations that Enel has in the country.
ALSO READ: Partial sale of Enel in Peru: CSGI would be the new owner
As you remember, At the beginning of October 2022, the board of directors of the subsidiary Enel Generación Perú agreed to form a committee of unrelated directors to evaluate the advisability of carrying out the aforementioned merger by absorption of the companies that are part of the same economic group.
Subsequently, the members of said committee approved the merger project and called the General Shareholders’ Meeting of the company for April 24, in order to evaluate the aforementioned initiative.
In this regard, Enel Generación Perú has explained that the objective of the merger is to take advantage of synergies to form a company with a optimal relationship between hydroelectric generation, thermoelectric generation, generation with non-conventional renewable energies, as well as the incorporation of a solid portfolio of renewable projects.
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