|
Transaction Valuation(1)
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| |
Amount of filing fee(2)
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|
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U.S.$1,479,908,242
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| |
U.S.$161,458
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| Amount Previously Paid: $161.458 | | | Filing Party: Enel S.p.A. | |
| Form or Registration No.: Schedule TO | | | Date Filed: February 22, 2021 | |
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Exhibit No.
|
| |
Description
|
|
| (a)(1)(A)* | | | | |
| (a)(1)(B)* | | | | |
| (a)(1)(C)* | | | | |
| (a)(1)(D)* | | | | |
| (a)(1)(E)* | | | | |
| (a)(1)(F)* | | | | |
| (a)(1)(G)* | | | | |
| (a)(1)(H)* | | | English Translation of Chilean Prospectus (Prospecto). | |
| (a)(1)(I)* | | | | |
| (a)(1)(J) | | | | |
| (a)(1)(K) | | | English Translation of Amended and Restated Chilean Prospectus (Prospecto). | |
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Exhibit No.
|
| |
Description
|
|
| (a)(1)(A)* | | | | |
| (a)(1)(B)* | | | | |
| (a)(1)(C)* | | | | |
| (a)(1)(D)* | | | | |
| (a)(1)(E)* | | | | |
| (a)(1)(F)* | | | | |
| (a)(1)(G)* | | | | |
| (a)(1)(H)* | | | English Translation of Chilean Prospectus (Prospecto). | |
| (a)(1)(I)* | | | | |
| (a)(1)(J) | | | | |
| (a)(1)(K) | | | English Translation of Amended and Restated Chilean Prospectus (Prospecto). | |
| |
THIS U.S. OFFER AND THE CORRESPONDING TENDER WITHDRAWAL RIGHTS WILL EXPIRE AT 5:00 P.M., NEW YORK CITY TIME, ON APRIL 13, 2021 OR SUCH LATER TIME AND DATE TO WHICH THE U.S. OFFER IS EXTENDED AND IS INTENDED TO COINCIDE WITH THE EXPIRATION OF THE CONCURRENT CHILEAN OFFER (AS DEFINED BELOW).
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| By First Class Mail: | | | By Registered or Overnight Delivery: | |
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Computershare Trust Company, N.A.
c/o Voluntary Corporate Actions P.O. Box 43011 Providence, RI 02940-3011 |
| |
Computershare Trust Company, N.A.
c/o Voluntary Corporate Actions 150 Royall Street, Suite V Canton, MA 02021 |
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| By Mail: | | | By Overnight Delivery: | |
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Citibank, N.A.
c/o Voluntary Corporate Actions PO Box 43011 Providence, RI 02940-3011 |
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Citibank, N.A.
c/o Voluntary Corporate Actions 150 Royall Street Suite V Canton, MA 02021 |
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SUMMARY OF THE OFFER
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| | | | 4 | | |
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INFORMATION ON THE OFFEROR AND ITS CONTROLLING SHAREHOLDER
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| | | | 6 | | |
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Information on the Offeror.
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6
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Major shareholders of the Offeror.
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8
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ECONOMIC AND FINANCIAL BACKGROUND OF THE OFFEROR
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| | | | 9 | | |
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Main Activities and Businesses.
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9
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Financial Information.
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9
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Listing on Stock Exchanges.
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10
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PREVIOUS RELATIONS BETWEEN THE OFFEROR AND ENEL AMÉRICAS
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| | | | 11 | | |
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Ownership.
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11
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Manner and time period in which the Offeror acquired its shares in Enel Américas.
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11
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Significant relationships.
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11
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Previous communications in relation to the Offer.
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12
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AIM OF THE OFFER AND BUSINESS PLAN
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| | | | 14 | | |
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Aim of the Offer.
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14
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Business Plan
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14
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Agreements with Shareholders
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14
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CHARACTERISTICS OF THE OFFER
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| | | | 15 | | |
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Total Amount of the Transaction
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15
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Shares; Markets; Amount; Proration
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15
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Offer period
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15
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Date and Newspapers for Publication of the Notice of Results
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15
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Recipients
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16
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Materialization System
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16
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PRICE AND PAYMENT TERMS
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17
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Price.
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17
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Control Premium.
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17
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Method of Payment.
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17
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Time and place of Payment
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17
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PROCEDURE FOR ACCEPTING THE OFFER
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18
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State of the offered shares
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18
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Formalities for the acceptance of the Offer and documents required.
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18
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Return of Shares.
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19
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GROUNDS FOR EXPIRATION OF THE OFFER
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20
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RIGHT OF WITHDRAWAL
|
| | | | 21 | | |
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FINANCING OF THE OFFER AND GUARANTEE
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| | | | 22 | | |
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Financing of the Offer
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22
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Guarantees
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22
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ADMINISTRATOR OF THE OFFER AND INDEPENDENT ADVISORS TO THE OFFEROR
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23
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Administrator of the Offer
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23
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Independent Advisors to the Offeror
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23
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RISK FACTORS AND MARKET INFORMATION
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24
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Risk Factors.
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24
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Impact of the Offer on the Shares.
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24
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Market Price of the Shares.
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24
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Dividends
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25
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Tax considerations for Enel Américas shareholders.
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26
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INFORMATION LOCATIONS
|
| | | | 27 | | |
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Name
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RUT/C.N.I.
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Position
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Michele Crisostomo
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Not applicable
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Chairman of the Board
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Cesare Calari
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Not applicable
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Director
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Constanza Esclapon de Villenueve
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Not applicable
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Director
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Samuel Leupold
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Not applicable
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Director
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Alberto Marchi
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Not applicable
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Director
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Mariana Mazzucato
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Not applicable
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Director
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Mirella Pellegrini
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Not applicable
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Director
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Anna Chiara Svelto
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Not applicable
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Director
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Francesco Starace
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Not applicable
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Director / General
Manager (CEO) |
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Name
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RUT/C.N.I.
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Position
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Alberto De Paoli
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Not applicable
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Chief Financial Officer
(CFO) |
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Guido Stratta
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Not applicable
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Head of People and Organization
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Roberto Deambrogio
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Not applicable
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Head of Communications
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Name
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RUT/C.N.I.
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Position
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Ernesto Ciorra
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Not applicable
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Head of Innovation and Sustainability
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Giulio Fazio
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Not applicable
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Head of Legal and Corporate Affairs
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Silvia Fiori
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Not applicable
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Head of Audit
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Francesca Di Carlo
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Not applicable
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Head of Global Procurement
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Carlo Bozzoli
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Not applicable
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Head of Global Digital Solutions
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Carlo Tamburi
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Not applicable
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Head of Italy
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José Damián Bogas Gálvez
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Not applicable
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Head of Iberia
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Maurizio Bezzeccheri
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26.490.357-2
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Head of Latin America
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Salvatore Bernabei
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Not applicable
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Head of Global Power Generation — Head of Africa, Asia and Oceania
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Simone Mori
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Not applicable
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Head of Europe
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Enrico Viale
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Not applicable
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Head of North America
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Antonio Cammisecra
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Not applicable
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Head of Global Infrastructure and Networks
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Claudio Machetti
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Not applicable
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Head of Global Energy and Commodity Management
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Francesco Venturini
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Not applicable
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Head of Enel X
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Shareholders
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% of share capital
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% of shares with
voting rights |
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Ministry of Economy and Finance of Italy
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| | | | 23.585% | | | | | | 23.585% | | | |
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BlackRock Inc.
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| | | | 5.000% | | | | | | 5.000% | | | |
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Capital Research and Management Company
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| | | | 5.03% | | | | | | 5.03% | | | |
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Consolidated Balance Sheet (in millions of €)
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| | | | | |||||||||||||||||||||
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Dec-2019
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Dec-2018
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Sep-2020(1)
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Sep-2019(1)
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Total current assets
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| | | | 36,804 | | | | | | 36,575 | | | | | | 33,838 | | | | | | 36,050 | | | |
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Total non-current assets
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| | | | 134,622 | | | | | | 128,849 | | | | | | 129,311 | | | | | | 133,910 | | | |
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Total assets
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| | | | 171,426 | | | | | | 165,424 | | | | | | 163,149 | | | | | | 169,960 | | | |
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Total current liabilities
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| | | | 40,491 | | | | | | 40,755 | | | | | | 40,398 | | | | | | 39,061 | | | |
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Total non-current liabilities
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| | | | 83,997 | | | | | | 76,817 | | | | | | 79,337 | | | | | | 83,068 | | | |
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Total shareholders’ equity
|
| | | | 46,938 | | | | | | 47,852 | | | | | | 43,414 | | | | | | 47,831 | | | |
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Total liabilities and shareholders’ equity
|
| | | | 171,426 | | | | | | 165,424 | | | | | | 163,149 | | | | | | 169,960 | | | |
| | | | | | | | | | | | | | | | |
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Consolidated Income Statement (in millions of €)
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Dec-2019
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Dec-2018
|
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Sep-2020(1)
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Sep-2019(1)
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Total revenue
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| | | | 80,327 | | | | | | 75,575 | | | | | | 48,050 | | | | | | 59,332 | | | |
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Total costs
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| | | | 72,716 | | | | | | 66,207 | | | | | | 40,523 | | | | | | 52,107 | | | |
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Net Income/(Expense) from commodity risk management
|
| | | | -733 | | | | | | 532 | | | | | | -552 | | | | | | -3,026 | | | |
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Operating profit
|
| | | | 6,878 | | | | | | 9,900 | | | | | | 6,975 | | | | | | 4,199 | | | |
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Financial Income
|
| | | | 2,566 | | | | | | 1,699 | | | | | | 1,720 | | | | | | 2,009 | | | |
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Income before taxes
|
| | | | 4,312 | | | | | | 8,201 | | | | | | 5,255 | | | | | | 2,190 | | | |
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Income taxes
|
| | | | 836 | | | | | | 1,851 | | | | | | 1,576 | | | | | | 647 | | | |
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Net Income
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| | | | 3,476 | | | | | | 6,350 | | | | | | 3,679 | | | | | | 1,543 | | | |
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Attributable to shareholders of the Parent Company
|
| | | | 2,174 | | | | | | 4,789 | | | | | | 2,921 | | | | | | 813 | | | |
| |
Attributable to non-controlling interests
|
| | | | 1,302 | | | | | | 1,561 | | | | | | 758 | | | | | | 730 | | | |
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Earnings per share (€/share)
|
| | | | 0.21 | | | | | | 0.47 | | | | | | 0.29 | | | | | | 0.08 | | | |
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Financial Ratios (in millions of €)
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Unit
|
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Dec-2019
|
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Dec-2018
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Sep-2020(1)
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Sep-2019(1)
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| | Liquidity | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
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Current Liquidity
|
| | | | Times | | | | | | 0.91 | | | | | | 0.90 | | | | | | 0.84 | | | | | | 0.92 | | | |
| | Debt | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
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Short-Term Debt to Total Liabilities
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| | | | % | | | | | | 12.0% | | | | | | 12.5% | | | | | | 17.9% | | | | | | 14.3% | | | |
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Long-Term Debt to Total Liabilities
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| | | | % | | | | | | 88.0% | | | | | | 87.5% | | | | | | 82.1% | | | | | | 85.7% | | | |
| | Return | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| |
Return on equity
|
| | | | % | | | | | | 7.4% | | | | | | 13.3% | | | | | | 8.5% | | | | | | 3.2% | | | |
| |
Return on assets
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| | | | % | | | | | | 2.0% | | | | | | 3.8% | | | | | | 2.3% | | | | | | 0.9% | | | |
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DATE
|
| |
VOLUME TRADED
(no. of shares) |
| |
SUM TRADED
(M$) |
| |
CLOSING PRICE
($) |
| |||||||||
|
Mar-2019
|
| | | | 1,597,193,635 | | | | | | 188,773,082,522 | | | | | | 120.98 | | |
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Apr-2019
|
| | | | 2,861,505,712 | | | | | | 334,520,822,830 | | | | | | 118.85 | | |
|
May-2019
|
| | | | 1,503,968,314 | | | | | | 165,971,287,255 | | | | | | 113.00 | | |
|
Jun-2019
|
| | | | 902,463,939 | | | | | | 104,839,054,125 | | | | | | 119.51 | | |
|
Jul-2019
|
| | | | 1,980,977,822 | | | | | | 231,673,603,632 | | | | | | 116.16 | | |
|
Aug-2019
|
| | | | 2,161,323,371 | | | | | | 250,635,006,332 | | | | | | 118.20 | | |
|
Sep-2019
|
| | | | 2,057,499,808 | | | | | | 259,490,553,718 | | | | | | 133.50 | | |
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Oct-2019
|
| | | | 2,471,882,158 | | | | | | 339,113,251,199 | | | | | | 138.50 | | |
|
Nov-2019
|
| | | | 2,794,861,026 | | | | | | 412,187,124,521 | | | | | | 154.44 | | |
|
Dec-2019
|
| | | | 1,738,729,183 | | | | | | 283,776,601,847 | | | | | | 167.00 | | |
|
Jan-2020
|
| | | | 1,752,053,584 | | | | | | 289,477,523,791 | | | | | | 157.70 | | |
|
Feb-2020
|
| | | | 1,740,469,228 | | | | | | 259,455,694,967 | | | | | | 137.00 | | |
|
Mar-2020
|
| | | | 2,990,507,806 | | | | | | 354,573,856,675 | | | | | | 104.60 | | |
|
Apr-2020
|
| | | | 5,628,531,984 | | | | | | 745,290,682,462 | | | | | | 137.00 | | |
|
May-2020
|
| | | | 4,057,018,649 | | | | | | 505,402,821,008 | | | | | | 116.50 | | |
|
Jun-2020
|
| | | | 4,582,849,230 | | | | | | 582,684,280,688 | | | | | | 124.00 | | |
|
Jul-2020
|
| | | | 1,907,572,526 | | | | | | 234,137,148,204 | | | | | | 117.46 | | |
|
Aug-2020
|
| | | | 3,251,033,596 | | | | | | 369,904,901,034 | | | | | | 111.87 | | |
|
Sep-2020
|
| | | | 2,106,751,389 | | | | | | 230,874,335,877 | | | | | | 102.00 | | |
|
Oct-2020
|
| | | | 1,848,963,705 | | | | | | 194,714,542,544 | | | | | | 102.60 | | |
|
Nov-2020
|
| | | | 1,653,110,560 | | | | | | 186,094,412,784 | | | | | | 110.60 | | |
|
DATE
|
| |
VOLUME TRADED
(no. of shares) |
| |
SUM TRADED
(M$) |
| |
CLOSING PRICE
($) |
| |||||||||
|
Dec-2020
|
| | | | 1,863,254,622 | | | | | | 215,958,388,640 | | | | | | 116.01 | | |
|
Jan-2021
|
| | | | 1,446,305,076 | | | | | | 167,606,087,012 | | | | | | 110.51 | | |
|
Feb-2021
|
| | | | 1,446,842,177 | | | | | | 161,465,144,411 | | | | | | 110.15 | | |
|
DATE
|
| |
VOLUME TRADED
(no. of shares) |
| |
SUM TRADED
($) |
| |
CLOSING PRICE
($) |
| |||||||||
|
Mar-2019
|
| | | | 44,319,865 | | | | | | 5,202,641,382 | | | | | | 120.35 | | |
|
Apr-2019
|
| | | | 71,547,087 | | | | | | 8,574,388,077 | | | | | | 118.05 | | |
|
May-2019
|
| | | | 20,790,924 | | | | | | 2,298,940,973 | | | | | | 113.19 | | |
|
Jun-2019
|
| | | | 20,330,669 | | | | | | 2,342,756,483 | | | | | | 118.50 | | |
|
Jul-2019
|
| | | | 210,382,209 | | | | | | 24,604,932,108 | | | | | | 116.05 | | |
|
Aug-2019
|
| | | | 89,787,086 | | | | | | 10,431,570,136 | | | | | | 118.09 | | |
|
Sep-2019
|
| | | | 20,847,645 | | | | | | 2,604,869,888 | | | | | | 132.53 | | |
|
Oct-2019
|
| | | | 84,307,097 | | | | | | 11,544,205,472 | | | | | | 138.37 | | |
|
Nov-2019
|
| | | | 39,492,757 | | | | | | 5,871,586,410 | | | | | | 154.30 | | |
|
Dec-2019
|
| | | | 63,447,885 | | | | | | 10,345,510,109 | | | | | | 164.52 | | |
|
Jan-2020
|
| | | | 47,631,510 | | | | | | 7,755,456,440 | | | | | | 155.63 | | |
|
Feb-2020
|
| | | | 15,774,673 | | | | | | 2,340,522,123 | | | | | | 137.98 | | |
|
Mar-2020
|
| | | | 81,191,026 | | | | | | 9,979,737,330 | | | | | | 104.98 | | |
|
Apr-2020
|
| | | | 518,835,873 | | | | | | 68,545,275,149 | | | | | | 135.11 | | |
|
May-2020
|
| | | | 550,861,081 | | | | | | 72,305,586,987 | | | | | | 119.74 | | |
|
Jun-2020
|
| | | | 168,002,909 | | | | | | 22,044,295,385 | | | | | | 125.50 | | |
|
Jul-2020
|
| | | | 271,420,283 | | | | | | 33,608,397,556 | | | | | | 113.61 | | |
|
Aug-2020
|
| | | | 171,704,195 | | | | | | 19,684,746,851 | | | | | | 112.98 | | |
|
Sep-2020
|
| | | | 230,581,611 | | | | | | 25,294,174,002 | | | | | | 101.13 | | |
|
Oct-2020
|
| | | | 157,139,076 | | | | | | 16,576,617,386 | | | | | | 100.80 | | |
|
Nov-2020
|
| | | | 114,620,541 | | | | | | 12,806,130,668 | | | | | | 115.74 | | |
|
Dec-2020
|
| | | | 89,747,706 | | | | | | 10,399,822,408 | | | | | | 116.50 | | |
|
Jan-2021
|
| | | | 77,162,693 | | | | | | 9,023,430,391 | | | | | | 111.96 | | |
|
Feb-2021
|
| | | | 72,999,377 | | | | | | 8,150,967,109 | | | | | | 110.98 | | |
|
Type
|
| |
Amount per share
($) |
| |
Total amount
($) |
| |
Payment date
|
| |||||||||
|
Provisional
|
| | | | 0.711 | | | | | | 54,116,059,725 | | | | | | 01-29-2021 | | |
|
Definitive
|
| | | | 3.856 | | | | | | 293,376,261,369 | | | | | | 05-29-2020 | | |
|
Additional
|
| | | | 3.448 | | | | | | 262,366,277,202 | | | | | | 05-29-2020 | | |
|
Provisional
|
| | | | 1.250 | | | | | | 95,144,407,233 | | | | | | 01-24-2020 | | |
|
Definitive
|
| | | | 3.419 | | | | | | 196,415,626,953 | | | | | | 05-17-2019 | | |
|
Additional
|
| | | | 1.449 | | | | | | 83,230,464,000 | | | | | | 05-17-2019 | | |
|
Provisional
|
| | | | 0.900 | | | | | | 51,687,774,027 | | | | | | 01-25-2019 | | |
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