-----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, TpBAI1xVdd/REAwWls0wtq27bcE9K3B8nDTh22WGjpXjbMJoJeYmgCoVcX36h98z WwXKOzcFAndCeUdQgwAB9Q== 0000909518-99-000203.txt : 19990325 0000909518-99-000203.hdr.sgml : 19990325 ACCESSION NUMBER: 0000909518-99-000203 CONFORMED SUBMISSION TYPE: SC 14D1/A PUBLIC DOCUMENT COUNT: 3 FILED AS OF DATE: 19990324 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: 99571889 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. 10 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 15) ================================================================================ - -------------------------------------------------------------------------------- 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 15 - -------------------------------------------------------------------------------- 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 15 - -------------------------------------------------------------------------------- 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 15 - -------------------------------------------------------------------------------- 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 15 - -------------------------------------------------------------------------------- 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 15 - -------------------------------------------------------------------------------- 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 15 This Amendment No. 10 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)(32) Opening remarks of Bruce A. Williamson at press conference held in Chile on February 25, 1999. Exhibit (a)(33) English translation of Purchaser's open letter to Endesa-Chile employees, made available at news conference in Chile on March 24, 1999, and published in Chilean newspapers on March 26 and March 28, 1999. Page 8 of 15 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 24, 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 15 EXHIBIT INDEX EXHIBIT NUMBER DESCRIPTION - -------------- ----------- Exhibit (a)(32) Opening remarks of Bruce A. Williamson at press conference held in Chile on February 25, 1999. Exhibit (a)(33) English Translation of Purchaser's open letter to Endesa-Chile employees, made available at news conference in Chile on March 24, 1999, and published in Chilean newspapers on March 26 and March 28, 1999. Page 10 of 15 EX-99 2 EXHIBIT (A)(32) Page 11 of 15 Duke Energy International Press Conference FEBRUARY 25, 1999 Comments by Bruce Williamson - -------------------------------------------------------------------------------- Good afternoon, and thank you for joining us today in Santiago. There has been a lot of coverage of Duke in the past week, and one of our major points is how we want to come into the Chilean business community in a spirit of open and clear communications of our objectives and intent. Therefore, we thought that perhaps it was best today to simply offer a forum for everyone to hear where we are in the process and to ask any questions you might have. But first, let me say a few words. One week ago, Duke Energy International announced its intent to seek a controlling interest in Endesa-Chile through a tender offer in both Chile and the United States. Today, Duke Energy International has initiated the process, both in Chile and in the United States, to implement the tender offers to acquire 51 percent of the shares of Endesa-Chile. This tender offer is conditioned on the amendment of Endesa-Chile's share concentration limit to allow a single shareholder, or group of shareholders, to hold up to 65 percent of the company's total shares. As we said in our statement a week ago, our tender offer is for 51 percent of Endesa, at a price of 250 pesos per Chilean share and a corresponding equal price for United States American Depository Shares which represent 30 shares of Endesa. We believe that our offer represents fair value and is equitable to all shareholders. All shareholders will be able to participate equally in the tender offers, as the offers will be implemented on a pro-rata basis. Fairness will be preserved through this open and transparent process. Upon the successful completion of the tender offers, Endesa-Chile will become Duke Energy International's platform for expansion throughout Latin America. Endesa-Chile's efficient management style combined with Duke Energy's financial strength will help to ensure Endesa-Chile's growth and profitability, providing value and growth for all shareholders of Endesa-Chile. The Duke Energy International offer for Endesa-Chile is independent from any other transaction or offer. I would hope that the shareholders of Endesa-Chile, both large and small, would look at our offer, the pricing, the terms and conditions and evaluate it. I am confident that when they do, they will conclude we have offered a fair value for Endesa-Chile. I am also confident that they will welcome the Duke style of business and the transparency and the equality we are seeking as we grow an energy business which will reach all across South America and will be headquartered in Santiago. Page 12 of 15 EX-99 3 EXHIBIT (A)(33) Page 13 of 15 An Open Letter to the Employees of Empresa Nacional de Electricidad S. A. (Endesa) We wanted to write to you about Duke Energy International's tender offer for Endesa. This letter seems the best way to reach as many Endesa employees as possible. First, let me say that we know how difficult it is to operate with an uncertain future. The series of events that have unfolded over the last few weeks must be very difficult for you and your families. Every day you hear something new about your company that raises new questions and new doubts. Prolonged uncertainty hurts everyone. Employees can't plan for their futures. Customers may lose confidence in the company. Everyone is distracted as the daily events impact the business. That's one reason why we'd like your support for Duke Energy's tender offer. We can end the uncertainty that clouds Endesa's future and together, start building the premiere energy company in Latin America. And, while other countries in South America are faced with a variety of economic problems, Duke Energy International's major investment in Endesa and Chile provide the financial strength to immediately begin down a path of growth and new opportunities. DUKE ENERGY INTERNATIONAL IS THE RIGHT CONTROLLER FOR ENDESA We believe the combination of Endesa and Duke Energy International is unbeatable. Here's why: o Our expertise, skills and resources are a good fit. Both Endesa and Duke Energy International have outstanding reputations for excellence in power generation. Endesa's operations and experience in South America provide a strong platform for expansion. Duke Energy International brings to the table its long experience in owning and operating power plants, along with expertise in natural gas and trading & marketing. These skills will be essential to succeed in a competitive Latin American energy industry. o Duke Energy International is making a long-term commitment to Endesa. Duke is committed to making Endesa its vehicle for investment in electricity generation in South America. That would make Endesa and Chile the base of our South American operations. o Duke Energy International has the highest regard for the management and employees of Endesa. We respect your expertise. o Duke Energy International has the financial strength, vision and reputation to be the world's premiere energy company. That translates to growth and opportunity for Endesa and its employees. Page 14 of 15 o Duke Energy International is committed to integrity in all of its operations. In a survey by the Financial Times, Duke Energy was named the world's most respected utility. Fortune magazine has named Duke Energy "America's Most Admired" electric and gas company. In our business dealings in Chile, we have set high standards for transparency and have strictly complied with all local laws and regulations. The commitment to ethical business practices is one of Duke Energy International's core values everywhere in the world we operate. o Duke Energy International's tender offer is fairly priced. It represents a significant premium over the average price Endesa stock was selling for prior to Duke Energy International's tender offer. o Duke Energy International's offer is equal for all shareholders. All shareholders, regardless of size, have the opportunity to participate in this tender offer at the same share price. Following consummation of the offer, Duke Energy International intends to seek majority representation on the Endesa's board of directors. We believe that Endesa's institutional and minority shareholders should also be represented on the board of directors, consistent with their level of ownership. We invite you to join us in building Chile's and South America's premiere energy company. For those of you who own shares of Endesa, we request that you do two things: o VOTE YOUR PROXY by April 8 to increase the ownership concentration limits from 26% to 65%. o TENDER YOUR SHARES in accordance with the instructions set forth in the information from Banchile. Thank you for welcoming Duke Energy International so warmly. With your support, together we - Endesa and Duke Energy International -- can look forward to a future of opportunity and growth. Sincerely, Bruce A. Williamson President and Chief Executive Officer Page 15 of 15 -----END PRIVACY-ENHANCED MESSAGE-----