Enersis
 | |
| Sociedad Anónima | |
| Traded as |
BCS: ENERSIS NYSE: ENI BMAD: XENI |
| Industry | Utility |
| Founded | 1889 |
| Headquarters | Santiago, Chile |
Key people |
Jorge Rosenblut, (Chairman) Luigi Ferraris, (CEO) |
| Products | Electricity generation and distribution |
| Revenue |
 US$ 12.6 billion (2013) |
|
US$ 1.3 billion (2013) | |
Number of employees | 11,301 |
| Parent | Enel |
| Subsidiaries | Endesa (Chile) , Chilectra, Ampla, Codensa, among others |
| Website | www.enersis.cl |
Enersis is one of the main privately owned multinational electric power corporations in South America, with operations in five countries: Argentina, Brazil, Chile, Colombia, and Peru. It currently holds direct and indirect participation in electric power generation, transmission, and distribution businesses.
The Enersis Group generating companies had an installed capacity of 14,832 MW, and through the distribution companies they supplied electricity to near 13.7 million customers, or approximately 45 million inhabitants.
The controlling shareholder of Enersis is Enel Energy Europe, which holds 60.62% ownership.
History
On June 19, 1981, Compañía Chilena de Electricidad S.A. formed a new corporate structure which gave birth to a parent company and three subsidiaries. One of these was Compañía Chilena Metropolitana de Distribucion Electrica S.A. In 1985, under the Chilean government's privatization policy, the process of transferring the share capital of Compañía Chilena Metropolitana de Distribucion Electrica 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.
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 Distribucion Electrica S.A. thus became an investment holding company.
In August 1988, as resolved at the preceding shareholders meeting in April 1988, one of the companies born from the division changed its name to Enersis S.A. Also in 1988, to meet its development and growth needs, the company was split into 5 business units which in turn gave birth to five subsidiaries:
- Chilectra and Río Maipo were responsible for electricity.
- Manso de Velasco concentrated on electrical engineering and construction services and real-estate management.
- Synapsis in the area of information technology and data processing.
- Diprel focused on providing procurement and commercialization of electrical product services.
At the April 2002 shareholders meeting, the company's objects were modified, introducing telecommunications activities, and the investment and management of companies whose businesses are in telecommunications and information technology, and internet trading businesses.
Present day
Enersis is currently one of the largest private electricity groups in Latin America in terms of consolidated assets and operating revenue, achieved through steady and balanced growth in its electricity businesses: generation, transmission and distribution.
The development of the electricity distribution business abroad has been implemented jointly with its subsidiary Chilectra, a company that distributes electricity in the Metropolitan Region, Chile. Its investments in electricity generation in Chile and South America have been developed mainly through its subsidiary Empresa Nacional de Electricidad S.A. (Endesa Chile).
In addition, it is involved in businesses that complement its principal ones through majority holdings in the following companies:
- Inmobiliaria Manso de Velasco Ltda. committed to the real-estate business through the integral development of real-estate projects and the administration, rental, purchase and sale of the property assets of Enersis and its subsidiaries in Chile.
- ICT Servicios Informáticos Limitada is a consulting services company in technology, and computing, and telecommunications.
Enel Energy acquisition
In October 2014 Endesa, SA materialized the sale to Enel Energy Europe, SRL of 9,967,630,058 shares, equivalent to 20.3 % of the share capital of Enersis SA, which were directly owned by Endesa, SA and 100% of the shares of Endesa Latinoamérica, SA (owned in turn by 19,794,583,473 shares, equivalent to 40.32 % of the share capital of Enersis SA ) . This transfer was registered on today in the Register of Shareholders of Enersis SA.
Endesa, SA is controlled on a 90.063 % by Enel Energy Europe SRL . As a result of the reported transaction, Endesa Latinoamérica, SA, becomes controlled 100 % by Enel Energy Europe SRL Meanwhile, Enel Energy Europe S.R.L. is controlled 100 % by the parent company Enel SpA, an Italian company listed on the Milan Stock Exchange.
Accordingly, and pursuant to the transfer of abovementioned actions, Enel SpA remains the ultimate controller of Enersis SA, and, hereinafter, such control is exercised through Enel Energy Europe SRL, replacing Endesa SA 20.3% of the shares issued by Enersis SA and through Endesa Latinoamérica SA, with 40.32 % of the shares issued by Enersis SA.
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