The story
History
On June 19, 1981, Compañía Chilena de Electricidad S.A. was reorganized into a parent company and three subsidiaries. One of these was Compañía Chilena Metropolitana de Distribución Eléctrica S.A. In 1985, under the Chilean government's privatization policy, the process of transferring the share capital of Compañía Chilena Metropolitana de Distribución Eléctrica S.A. to the private sector was begun, ending finally on August 10, 1987.
In this process, the pension fund management companies (AFPs), company employees, institutional investors, and thousands of small shareholders joined the company. Its organizational structure was based on activities or operative functions whose results were evaluated functionally and its profitability was limited by a tariff structure as a result of the company's exclusive dedication to the electricity distribution business.
Restructuring and diversification (1987–2014)
In 1987, the company's board proposed forming a division for each of the parent company's activities. Four subsidiaries were therefore created to be managed as business units each with its own objectives, thus expanding the company's activities toward other non-regulated activities but linked to the main business. This division was approved by the extraordinary shareholders meeting of November 25, 1987, which defined its new corporate objects. Compañía Chilena Metropolitana de Distribución Eléctrica S.A. thus became an investment holding company.
On August 1, 1988, by virtue of that agreed at the General Extraordinary Shareholder's Meeting of April 12, 1988, one of the corporations born out of the division changed its company name to Enersis S.A. The same year, and with the purpose of successfully facing the challenge of development and growth, the company was divided into five business units, which gave rise to five affiliates.
Of these, Chilectra and Río Maipo took charge of electric power distribution; Manso de Velasco concentrated upon engineering and electric construction services, as well as real estate administration; Synapsis took care of the information technologies and data processing area; while Diprel focused upon lending electric product supply and marketing services.
In the General Extraordinary Shareholder's Meeting of April 11, 2002, the corporate purpose of the company was modified, introducing the activities of telecommunications and the investment in and administration of companies having telecommunications and information technologies and business intermediation through the Internet as corporate purposes.
Acquisition by Enel (2014–present)
In October 2014, after Endesa was acquired by Enel, Enersis S.A became controlled by Enel. The company underwent a corporate restructuring process that began in April 2015 and ended in December 2016. The restructuring consisted in separating the electric power generation and distribution activities developed in Chile, from the rest of the countries. In this way, Enel Americas S.A. was created, a company continuing Enersis with activities in Argentina, Brazil, Colombia and Peru, and Enel Chile S.A.
Today, Enel Americas S.A. is one of the largest private electric power companies in Latin America, in terms of consolidated assets and operational income, which has been achieved through a stable and balanced growth in its electric power businesses: generation, transmission and distribution.
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The merger by absorption of the subsidiaries Emgesa S.A. ESP (Absorbing company), Codensa S.A. ESP, Enel Green Power Colombia S.A.S. ESP y ESSA2 SpA (Absorbed companies) took place on March 1, 2022. The new corporate name of the merged company is Enel Colombia S.A. ESP, a company in which Enel Américas holds a 57.345% stake as a result of this operation.
Stock market information
In Chile, the stock is traded on the following stock exchanges: the Santiago Stock Exchange or "BCS" (Bolsa de Comercio de Santiago) and the Chilean Electronic Stock Exchange or "BEC" (Bolsa Electrónica de Chile). As of December 31, 2022, the BCS and BEC accounted for 93% and 7%, respectively, of the total equity traded in Chile. The market cap as of december 2022 was US$ 14,230 billions.
In the United States, during 2022, 302,209,504 ADSs were traded (through July 20, 2022), equivalent to 15,110,475,200 ordinary shares (1 ADS represented 50 shares).
From Wikipedia’s article on Enel Américas, shared under CC BY-SA 4.0.5