-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, C4zNFHmdsLlFD4d2OUD4c9Gu7+0c1wQa1IRmDDRoQb7Wz10oDVDTjum3Yso/WkOa s/DE7VYyMZFAeHM9RNyn6w== 0000909518-99-000194.txt : 19990322 0000909518-99-000194.hdr.sgml : 19990322 ACCESSION NUMBER: 0000909518-99-000194 CONFORMED SUBMISSION TYPE: SC 14D1/A PUBLIC DOCUMENT COUNT: 4 FILED AS OF DATE: 19990319 GROUP MEMBERS: DUKE CAPITAL CORPORATION GROUP MEMBERS: DUKE ENERGY CORP GROUP MEMBERS: DUKE ENERGY GLOBAL ASSET DEVELOPMENT GROUP MEMBERS: DUKE ENERGY INTERNATIONAL LLC GROUP MEMBERS: DUKE ENERGY SERVICES, INC. GROUP MEMBERS: PANERGY CORP. SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: NATIONAL ELECTRICITY CO OF CHILE INC /ADR/ CENTRAL INDEX KEY: 0000926869 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 000000000 FILING VALUES: FORM TYPE: SC 14D1/A SEC ACT: SEC FILE NUMBER: 005-55931 FILM NUMBER: 99569143 BUSINESS ADDRESS: STREET 1: CITIBANK N A STREET 2: 111 WALL ST CITY: NEW YORK STATE: NY ZIP: 10043 BUSINESS PHONE: 2126577691 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: DUKE ENERGY CORP CENTRAL INDEX KEY: 0000030371 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 560205520 STATE OF INCORPORATION: NC FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 14D1/A BUSINESS ADDRESS: STREET 1: 526 SOUTH CHURCH STREET CITY: CHARLOTTE STATE: NC ZIP: 28201-1006 BUSINESS PHONE: 7045946200 MAIL ADDRESS: STREET 1: 422 S CHURCH ST CITY: CHARLOTTE STATE: NC ZIP: 28242 FORMER COMPANY: FORMER CONFORMED NAME: DUKE POWER CO /NC/ DATE OF NAME CHANGE: 19920703 SC 14D1/A 1 =============================================================================== SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 14D-1 TENDER U.S. OFFER STATEMENT PURSUANT TO SECTION 14(d)(1) OF THE SECURITIES EXCHANGE ACT OF 1934 AMENDMENT NO. 7 Empresa Nacional de Electricidad S.A. (Name of Subject Company) Duke Energy International, L.L.C. Duke Energy Corporation (Bidders) Common Stock, no par value (including that represented by American Depositary Shares) 29244T101 (Title of Class of Securities) (CUSIP Number of Class of Securities) Carol Graebner, Esq. General Counsel Duke Energy International, L.L.C. 5400 Westheimer Court Houston, Texas 77056-5310 Telephone: (713) 627-6542 Facsimile: (713) 627-5219 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications on Behalf of Bidders) ---------------------------------- Copy to: Frederick S. Green, Esq. Ellen J. Odoner, Esq. Weil, Gotshal & Manges LLP 767 Fifth Avenue New York, New York 10153-0119 Telephone: (212) 310-8000 Facsimile: (212) 310-8007 (Continued on following pages) (Page 1 of 16) ================================================================================ NY2:\377021\01\82WT01!.DOC\42615.0005 - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS: Duke Energy International, L.L.C. - -------------------------------------------------------------------------------- S.S. OR IRS IDENTIFICATION NO. OF ABOVE PERSONS: 56-2051206 - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [x] (b) [ ] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS: AF - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(e) OR 2(f) N/A - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION: State of Delaware - -------------------------------------------------------------------------------- 7 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 0 - -------------------------------------------------------------------------------- 8 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (7) EXCLUDES CERTAIN SHARES N/A - -------------------------------------------------------------------------------- 9 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (7) N/A - -------------------------------------------------------------------------------- 10 TYPE OF REPORTING PERSON OO - -------------------------------------------------------------------------------- Page 2 of 16 - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS: Duke Energy Global Asset Development, Inc. - -------------------------------------------------------------------------------- S.S. OR IRS IDENTIFICATION NO. OF ABOVE PERSONS: 88-0366429 - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [x] (b) [ ] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS: AF - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(e) OR 2(f) N/A - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION: State of Navada - -------------------------------------------------------------------------------- 7 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 0 - -------------------------------------------------------------------------------- 8 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (7) EXCLUDES CERTAIN SHARES N/A - -------------------------------------------------------------------------------- 9 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (7) N/A - -------------------------------------------------------------------------------- 10 TYPE OF REPORTING PERSON CO - -------------------------------------------------------------------------------- Page 3 of 16 - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS: Duke Energy Services, Inc. - ------------------------------------------------------------------------------- S.S. OR IRS IDENTIFICATION NO. OF ABOVE PERSONS: 48-0650320 - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [x] (b) [ ] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS: AF - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(e) OR 2(f) N/A - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION: State of Delaware - -------------------------------------------------------------------------------- 7 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 0 - -------------------------------------------------------------------------------- 8 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (7) EXCLUDES CERTAIN SHARES N/A - -------------------------------------------------------------------------------- 9 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (7) N/A - -------------------------------------------------------------------------------- 10 TYPE OF REPORTING PERSON CO - -------------------------------------------------------------------------------- Page 4 of 16 - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS: PanEnergy Corp. - ------------------------------------------------------------------------------- S.S. OR IRS IDENTIFICATION NO. OF ABOVE PERSONS: 74-2150460 - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [x] (b) [ ] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS: AF - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(e) OR 2(f) N/A - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION: State of Delaware - -------------------------------------------------------------------------------- 7 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 0 - -------------------------------------------------------------------------------- 8 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (7) EXCLUDES CERTAIN SHARES N/A - -------------------------------------------------------------------------------- 9 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (7) N/A - -------------------------------------------------------------------------------- 10 TYPE OF REPORTING PERSON CO - -------------------------------------------------------------------------------- Page 5 of 16 - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS: Duke Capital Corporation - ------------------------------------------------------------------------------- S.S. OR IRS IDENTIFICATION NO. OF ABOVE PERSONS: 51-0282142 - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [x] (b) [ ] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS: BK, WC,OO - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(e) OR 2(f) N/A - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION: State of Delaware - -------------------------------------------------------------------------------- 7 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 0 - -------------------------------------------------------------------------------- 8 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (7) EXCLUDES CERTAIN SHARES N/A - -------------------------------------------------------------------------------- 9 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (7) N/A - -------------------------------------------------------------------------------- 10 TYPE OF REPORTING PERSON CO - -------------------------------------------------------------------------------- Page 6 of 16 - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS: Duke Energy Corporation - ------------------------------------------------------------------------------- S.S. OR IRS IDENTIFICATION NO. OF ABOVE PERSONS: 56-0205520 - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [x] (b) [ ] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS: N/A - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(e) OR 2(f) N/A - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION: State of North Carolina - -------------------------------------------------------------------------------- 7 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 0 - -------------------------------------------------------------------------------- 8 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (7) EXCLUDES CERTAIN SHARES N/A - -------------------------------------------------------------------------------- 9 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (7) N/A - -------------------------------------------------------------------------------- 10 TYPE OF REPORTING PERSON CO - -------------------------------------------------------------------------------- Page 7 of 16 This Amendment No. 7 amends and supplements the Tender Offer Statement on Schedule 14D-1 filed on February 25, 1999, as amended, by Duke Energy International, L.L.C., a Delaware limited liability company (the "BIDDER") and a wholly-owned, indirect subsidiary of Duke Energy Corporation, a North Carolina corporation ("DUKE"), with respect to the offer by Bidder to purchase for cash up to 501,947,400 shares of Common Stock, no par value (the "SHARES"), of Empresa Nacional de Electricidad S.A. (the "COMPANY"), a publicly traded stock corporation (sociedad anonima abierta) incorporated under the laws of the Republic of Chile, including Shares represented by American Depositary Shares, each representing 30 Shares and evidenced by American Depositary Receipts. ITEM 11. MATERIAL TO BE FILED AS EXHIBITS. EXHIBIT NUMBER DESCRIPTION - -------------- ----------- Exhibit (a)(25) Letter from Bruce A. Williamson to non-Chilean Endesa shareholders. Exhibit (a)(26) Script for use by Duke Energy executives in connection with meetings with institutional shareholders of Endesa. Exhibit (a)(27) English translation of advertisement by Banchile to be published in El Mercurio on March 22, 1999. Page 8 of 16 SIGNATURES After due inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Dated: March 19, 1999 DUKE ENERGY INTERNATIONAL, L.L.C. By: /s/ BRUCE A. WILLIAMSON -------------------------------------------- Name: Bruce A. Williamson Title: President and Chief Executive Officer DUKE ENERGY CORPORATION DUKE ENERGY GLOBAL ASSET DEVELOPMENT, INC. DUKE ENERGY SERVICES, INC. PANENERGY CORP. DUKE CAPITAL CORPORATION By: /s/ BRUCE A. WILLIAMSON -------------------------------------------- Name: Bruce A. Williamson Title: Authorized person Page 9 of 16 EXHIBIT INDEX EXHIBIT NUMBER DESCRIPTION - ------ ----------- (a)(25) Letter from Bruce A. Williamson to non-Chilean Endesa shareholders. (a)(26) Script for use by Duke Energy executives in connection with meetings with institutional shareholders of Endesa. (a)(27) English translation of advertisement by Banchile to be published in El Mercurio on March 22, 1999. Page 10 of 16 EX-99 2 EXHIBIT (A)(25) Page 11 of 16 [DUKE ENERGY INTERNATIONAL LOGO] March 18, 1999 Dear Endesa Shareholder: On February 25, 1999, Duke Energy International, L.L.C., commenced an offer to purchase up to 501,947,400 common shares (including common shares represented by American Depositary Shares) of Empresa Nacional de Electricidad S.A. ("Endesa") at 250 Chilean pesos net per share (or 7,500 Chilean pesos per ADS, each of which represents 30 shares of common stock of Endesa). THIS REPRESENTS A PREMIUM OF APPROXIMATELY 48% OVER THE AVERAGE PRICE OF ENDESA SHARES ON THE SANTIAGO STOCK EXCHANGE FOR THE SIX MONTHS PRIOR TO DUKE ENERGY'S ANNOUNCEMENT OF ITS OFFER. The Offer is only open to U.S. and other non-Chilean holders of Endesa ADSs and Endesa shares. At the same time, Duke Energy is making an Offer in Chile (which is only open to Chilean persons) for up to 3,680,947,436 Endesa shares at the same price as in the U.S. Offer. Although Duke Energy believes that the Offer is an attractive opportunity for Endesa shareholders, you should be aware that the Offer cannot be consummated without the approval of a proposed amendment to Endesa's bylaws, which would raise the limitation on share ownership from 26% to 65%. Endesa has called an Extraordinary Shareholders meeting for April 8, 1999 to vote on the proposed amendment. TO PRESERVE YOUR OPPORTUNITY TO PARTICIPATE IN THE DUKE OFFER, WE URGE YOU TO SIGN, DATE AND RETURN THE ENCLOSED FORM OF PROXY TODAY, VOTING FOR THE BYLAW AMENDMENT. Approval of the proposed amendment does not obligate you in any way to tender your shares to Duke. SINCE THE PROPOSED AMENDMENT REQUIRES THE AFFIRMATIVE VOTE OF 75% OF ENDESA'S OUTSTANDING SHARES, YOUR VOTE IS EXTREMELY IMPORTANT. I urge you to protect the value of your investment by voting FOR the proposed bylaw amendment. PLEASE CHECK THE FOR BOX ON THE ENCLOSED FORM OF PROXY AND MAIL IT TODAY. Thank you for your consideration and support. Sincerely, BRUCE A. WILLIAMSON President Duke Energy International L.L.C. ================================================================================ IMPORTANT: MAKE SURE YOUR VOTE IS COUNTED! Your bank or broker must deliver your vote to Citibank, N.A., the ADS depositary, no later than 10:00 AM, EST, Tuesday, April 6, 1999, Citibank's deadline. THEREFORE YOUR BANK OR BROKER MUST RECEIVE YOUR VOTE BY APRIL 5, 1999 IN ORDER TO HAVE AMPLE TIME TO DELIVER IT TO CITIBANK. IF YOU HAVE ANY QUESTIONS, OR NEED ASSISTANCE IN VOTING YOUR SHARES OR ADSS, PLEASE CONTACT INNISFREE M&A INCORPORATED, WHICH IS ASSISTING US, AT (888) 750-5834 (TOLL-FREE). ================================================================================ Page 12 of 16 EX-99 3 EXHIBIT (A)(26) Page 13 of 16 TALKING POINTS FOR LARGE INSTITUTIONAL INVESTOR DISCUSSIONS RE: ENDESA- CHILE TENDER OFFER Note: Some of the talking points will not be necessary for those already familiar with Duke Energy. o Duke Energy was created June 18, 1997 as a result of the merger of Duke Power Company and PanEnergy Corporation. o Duke Energy was named the world's most respected utility in a survey by the Financial Times and Fortune magazine has named Duke Energy "America's Most Admired" electric and gas company. o Wall Street has called Duke energy the "First Mover" in the convergence of gas and electricity. o Duke Energy International's (DEI) strategy is to build regional energy businesses with multiple business lines across the value chain. o DEI's strategy is to focus on locations with a deregulating governmental framework; specifically, we are currently targeting the Asia/Pacific area, South America and Europe. o DEI currently owns assets in Australia, Indonesia, Saudi Arabia, Chile, Argentina, Peru and Ecuador. o An example of our strategy being applied in South America is the Aguaytia Energy Project in Peru. It began commercial operations in 1998 and is a fully integrated natural gas and electric system - it will serve as a model for how similar projects will be developed going forward. o Our current offer is to acquire a controlling stake in Endesa-Chile via a tender offer for 51% of the outstanding shares. o Endesa-Chile provides a strong platform for expansion that is consistent with our strategy. o Duke brings experience of owning and operating power plants along with expertise in trading and marketing that will be essential in the evolving competitive environment o This offer is a long term commitment to the company and the country and Endesa-Chile would become our base for all Latin American operations. o Duke has the highest regard for the management of Endesa-Chile. o The offer we have made is fairly priced and represents about a 48% premium over the average share price of the last six months. Page 14 of 16 EX-99 4 EXHIBIT (A)(27) Page 15 of 16 ENGLISH TRANSLATION SHAREHOLDERS OF ENDESA Duke Energy International L.L.C. has stated its intent to acquire 51% of the shares of Endesa. To this end, it has offered to buy in Chile, from Chilean shareholders, a total of 3,680,947,436 shares at a price of [CH]$250 PER SHARE This price represents a premium of 45.8% over the closing price on December 31, 1998 34.4% over the average price during 1999 (*) 54.0% over the average price during the last six months (*) (*) To February 17, 1999, the day prior to Duke's announcement of its intent to take control of Endesa. IF YOU ALREADY TOOK THE DECISION OF PARTICIPATING IN THIS OFFER, WE INVITE YOU TO COME TO MONEDA 877 OR TO THE OFFICES OF BANCHILE AND BANCO DE CHILE THROUGHOUT THE COUNTRY, TO SIGN YOUR SALE ORDER WITH AS MUCH ANTICIPATION AS POSSIBLE. THIS WILL ALLOW US TO GIVE YOU AND ALL OTHER SHAREHOLDERS BETTER SERVICE. PRORATING SYSTEM In the event that the total number of shares offered for sale in the remate is greater than the number offered to buy, the acquisition shall be made pro rata. This system guarantees equal conditions for all shareholders, irrespective of the number of shares owned by them. For more information, call 800 20 28 20 or visit us at www.banchile.cl. Duke Energy International Logo Banchile Corredores de Bolsa Logo Page 16 of 16 -----END PRIVACY-ENHANCED MESSAGE-----