Enel Américas updates the sale process of Central Dock Sud in Argentina

Enel Américas updates the sale process for Central Dock Sud in Argentina. YPF Luz, and Pan American Sur SA exercise their right of first refusal to purchase all of the shares that it owns in Inversora Dock Sud. Dock Sud owns and operates a gas-fired power plant located in the Avellaneda district of Buenos Aires, with an installed capacity of 870 MW.

Original Press Release:

Santiago, March 20 -- Enel Americas issued the following news release:

On Friday, March 17, YPF Luz, YPF's electric power company, notified Enel Américas of its intention to exercise its pre-emptive right of all the shares that it owns in Inversora Dock Sud SA, extending the same to the shares that Enel Américas has in Central Dock Sud SA through Enel Argentina. Likewise, on the same Friday, March 17, Pan American Sur SA informed Enel Argentina of its intention to exercise its pre-emptive right over the shares it has in Central Dock Sud.

Although Enel Américas announced on February 17 through a press release the sale of Central Costanera and Central Dock Sud to Central Puerto for 102 million dollars (48 million for 75.7 percent of Central Costanera and 54 million for 41.2 percent of Central Dock Sud), at that time it was also clarified that the sale of Central Dock Sud was subject to "certain conditions precedent." Among those conditions precedent was that the shareholders of Inversora and Central Dock Sud did not exercise their preferential purchase right that YPF Luz and Pan American Sur have now decided to exercise.

Consequently, in the next few days the parties must sign the corresponding agreements to later transfer the shares, in order to perfect the transaction, under the same conditions and price agreed upon by Central Puerto.

“We continue with our strategic plan, taking an important step to decarbonize our generation matrix, and at the same time focus our efforts on growth through renewable projects in countries that are advancing faster in the energy transition and whose regulation allows us to move towards a sustainable development”, explained Maurizio Bezzeccheri, general manager of Enel Américas.

Dock Sud owns and operates a gas-fired power plant located in the Avellaneda district of Buenos Aires, with an installed capacity of 870 MW.

Enel Argentina, a subsidiary of Enel Américas, in addition to the assets currently for sale, operates the 1,328 MW Enel Generación El Chocón hydroelectric plant. The Group also distributes and sells energy to around 2.6 million customers in Greater Buenos Aires and is present in the energy efficiency, home services and distributed generation segments through Enel X Global Retail and in the energy sector. electric mobility with Enel X Way.

Disclaimer: The Above Content is Auto-Translated

Source: Enel Americas

[Category: Regulatory and Legal]