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The transaction is in line with the strategic plans of the Italian group
Enel Chile has completed the sale of Enel Transmisión Chile to Sociedad Transmisora Metropolitana, controlled by Inversiones Grupo Saesa. STM paid US$1.39 billion for Enel Chile’s 99.09% stake in the transmission company. As part of the transaction, STM also repaid intercompany loans from Enel Transmisión Chile. The sale process began on November 7 with a tender offer and ended on December 6.
According to the company, the transaction is in line with the current strategic plan of the Enel group, with the objective of targeting the main activities in countries such as Chile, leaving the activities that are no longer aligned with the group’s strategy, such as the transmission segment.
Grupo Saesa is the largest energy distributor in southern Chile, supplying electricity to approximately 950,000 customers and operating 2,280 km of transmission lines and 75 substations. Additionally, it has over 275 MW of power generation capacity. The controllers of the Saesa group are the Canadian pension funds Ontario Teachers’ Pension Plan and Alberta Investment Management Corporation, each with a 50% stake.
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