-----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, Wf4p9rs/cN/CesI2iXn3fmX+ezYwu5ZIkPPcu/oC2lw+3wVN7XmxDejJmtcHSlsz 980/7YMLuil19m7wj/fZjQ== 0000909518-99-000227.txt : 19990406 0000909518-99-000227.hdr.sgml : 19990406 ACCESSION NUMBER: 0000909518-99-000227 CONFORMED SUBMISSION TYPE: SC 14D1/A PUBLIC DOCUMENT COUNT: 3 FILED AS OF DATE: 19990405 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: 99587457 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. 15 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. 15 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)(45) Press release issued by Duke on April 4, 1999 urging ADS holders to vote for the bylaw amendments. Exhibit (a)(46) Letter from Duke to ADS holders sent on April 5, 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: April 5, 1999 DUKE ENERGY INTERNATIONAL, L.L.C. By: 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: BRUCE A. WILLIAMSON ----------------------------------------------- Name: Bruce A. Williamson Title: Authorized person Page 9 of 15 EXHIBIT INDEX EXHIBIT NUMBER DESCRIPTION - -------------- ----------- Exhibit (a)(45) Press release issued by Duke on April 4, 1999 urging ADS holders to vote for the bylaw amendments. Exhibit (a)(46) Letter from Duke to ADS holders sent on April 5, 1999. Page 10 of 15 EX-99 2 EXHIBIT (A)(45) Page 11 of 15 April 4, 1999 CONTACT: Bryant Kinney Office: 704/382-2208 24-Hour: 704/382-8333 DUKE ENERGY REMINDS ENDESA ADS HOLDERS TO RETURN PROXY NO LATER THAN MONDAY, APRIL 5 Company Urges ADS Holders To Vote FOR The Amendment To Raise The Endesa Shareholder Concentration Limit CHARLOTTE - Duke Energy (NYSE: DUK) is reminding all Empresa Nacional de Electricidad SA (Endesa) American Depositary Shares (ADS) holders that they must sign, date and return their proxy to their broker or bank no later than Monday, April 5 to ensure their vote is counted in the Endesa shareholder vote on the bylaw amendment to raise the shareholder concentration limit from 26 percent to 65 percent. "The vote of all ADS holders is extremely important," said Bruce Williamson, president and chief executive officer for Duke Energy International. "Duke Energy strongly urges all ADS holders to protect the value of their investment by voting FOR the bylaw amendment to raise the shareholder concentration and making sure their proxy is counted." Voting FOR the amendment was recommended by Institutional Shareholder Services (ISS) in a March 29 report. Duke Energy, through its wholly owned subsidiary Duke Energy International, has offered to purchase 51 percent of Endesa's common shares, including common shares represented by American Depositary Shares at 250 Chilean pesos per share. The offer represents a premium of approximately 48 percent over the average price of Endesa shares for the six months prior to Duke Energy's announcement of its offer. The offer cannot go forward unless the bylaw amendment is approved. The vote to amend the bylaws will occur at an extraordinary shareholders' meeting to be held on April 8 in Santiago, Chile. ADS holders' banks or brokers must receive votes by April 5, 1999 in order to have ample time to deliver it to Citibank. If you have any questions, or need last minute assistance in voting your ADS, please contact Innisfree M&A Incorporated at 1 - (888) 750-5834 (toll-free) or 1-212-750-5833 (international collect). Duke Energy is a global energy company with more than $26 billion in assets. Headquartered in Charlotte, N.C., the company reaches into more than 50 countries, producing energy, transporting energy, marketing energy and providing energy services. In the United States, Duke Energy companies provide electric service to approximately two million customers in North Carolina and South Carolina; operate interstate pipelines that deliver natural gas to various regions of the country; and are leading marketers of electricity, natural gas and natural gas liquids. Additional information about the company is available on the Internet at: http://www.duke-energy.com. Page 12 of 15 EX-99 3 EXHIBIT (A)(46) Page 13 of 15 AN IMPORTANT MESSAGE TO AMERICAN DEPOSITARY SHAREHOLDERS OF ENDESA-CHILE As you are aware, the Board of Directors of Endesa-Chile has called an extraordinary shareholders' meeting to vote on two amendments to the bylaws of Endesa-Chile. These amendments are as follows: 1. Increase the individual shareholder limitation from the current level of 26% to 65%, and 2. Increase the voting rights any individual shareholder may vote corresponding to that shareholder's amount of shares from the current level of 26% to 65%. Duke Energy strongly believes that a vote in favor of these amendments will immediately increase the value to current shareholders by allowing any third party to tender for a controlling position in Endesa-Chile. Institutional Shareholder Services (ISS) agrees with this assessment and has issued an opinion that a vote in favor is in the best interests of the shareholders of Endesa. Duke Energy reminds shareholders that this vote could be the last time that a vote of this nature will take place at Endesa-Chile. On 30 March, Enersis shareholders increased the shareholder limitation which now allows Endesa-Spain to complete its tender offer which would increase its equity position in Enersis from 32% to 64%. Enersis currently has a 25.3% position in Endesa-Chile. Endesa-Spain has announced its intention to vote in favor of the proposed amendments to the bylaws of Endesa-Chile at THIS meeting, but has publicly stated its intention not to tender any of Enersis' shares in Endesa-Chile. Thus, failure to vote or a vote against the proposed amendments may result in Endesa-Spain consolidating its influence over Endesa-Chile as its largest shareholder through its tender for Enersis without any attendant increase in value for the remaining shareholders of Endesa-Chile. Duke Energy reminds shareholders that 1.5% of the TOTAL ENERSIS ADS's were not submitted in time to be counted in the first Enersis vote. While we do not expect the same technical problems to occur with the Endesa-Chile ADS receiving agent, we urge all ADS holders to vote in time to allow the agent to properly complete its obligations. In order for your vote to be counted at the upcoming Endesa-Chile shareholders' meeting, you should ensure that you have given directions to your broker or bank on or before Monday, April 5, 1999. Remember, you may vote by Internet or telephone by following the instructions previously sent to you. If you require new instructions, please contact Innisfree M&A Incorporated. Duke Energy believes that its tender offer for 51% of Endesa-Chile is fair and equitable to all current shareholders of Endesa-Chile. The market price of Endesa-Chile shares has increased 54% since announcement. However, this tender offer is contingent upon the adoption of the proposed bylaw amendments to be voted on 8 April. We urge you to vote in favor of the proposed bylaw amendments and thereby ensure that the increased value of your shares is not temporary. Please remember that a failure to vote in a timely manner is equal to a vote against the bylaw amendments and is not constructive to shareholder value. Page 14 of 15 For clarifications, questions or comments, please immediately contact Innisfree M&A Incorporated at (888) 750-4834 (toll free) or 1 (212) 750-5833 (international collect). Sincerely, Bruce A. Williamson President & CEO Page 15 of 15 -----END PRIVACY-ENHANCED MESSAGE-----