Enel Américas, the largest private electricity company in South America, launches a capital increase of up to $3,5 billion. The board of directors of the Chilean company, 51,8% controlled by Enel, has convened an extraordinary shareholders' meeting for April 30 to approve a capital increase to be subscribed entirely in cash.
The increase will be implemented through theissue of new ordinary shares and new American depositary shares to be offered as an option to shareholders in proportion to the number of shares/American depositary shares held.
“Through the capital increase – states Enel's note – Enel Américas aims to strengthen its financial position to pursue new organic and inorganic growth opportunities, both through minority buyouts and through M&A activities, optimizing cash flows and improving the level of debt”.
Not only that, through this capital increase, the company will be able to increase its free float and its capitalization. We recall that Enel Américas is active in Argentina, Brazil, Colombia and Peru, with an installed capacity of over 11 GW and more than 24 million customers.
In the context of the next board meetings, Enel will evaluate the procedures for joining the recapitalization.
Remaining in Italy, in the context of the Asvis conference, the company led by Francesco Starace summarized the progress made by Enel on the Sustainable Development in the context of the 2030 agenda. "In 2010 we reasoned on our development model, finding a disconnect between the practice followed and what society required of us".
Starace, who is also a member of the European Commission's "multistakeholder platform" on the Sustainable Development Goals, recalled that like Enel "we have focused all of our company's activities on four of the 17 goals of the 2030 Agenda: the need to give all Education; the need to give everyone access to clean and affordable energy; the need to put in place what is needed to grow the economy sustainably; and finally the fight against climate change. It was an activity that went very deep within the company. We started pursuing some basic aspects that concerned our profession - reiterated Starace - since our success depends on the success of the company in which we operate and the more sustainable a company is, the easier it is for us to succeed".
In conclusion, the big groups have every interest in pushing for sustainability: “World finance – confirmed Starace – is paying increasing attention to the fact that if you invest in a sustainable project or business, the risk is lower and the return is higher".
