Published on Tuesday, 21 October 2014

Rome, October 21st, 2014 – Within the framework of the plan for the reorganisation of Enel Group activities in Iberia and Latin America, The Shareholders’ Meeting of Enel’s subsidiary Endesa S.A. (“Endesa”), meeting today, has approved the binding proposal – already examined and accepted, within the scope of its responsibilities, by the Board of Directors of Endesa at its meeting of September 17th, 2014 – put forth by Enel Energy Europe S.L. (“EEE”, a company incorporated under Spanish law that is wholly-owned by Enel SpA and which in turn holds 92.06% of Endesa) regarding:

1. the acquisition by EEE of the 60.62% interest held directly and indirectly by Endesa in the Chilean company Enersis S.A. (“Enersis”), parent company for operations in Latin America. More specifically, the stakes to be acquired are 20.30% of Enersis held directly by Endesa, and 100% of Endesa Latinoamérica S.A. (“Endesa Latinoamérica”), which in turn holds 40.32% of Enersis. The proposal provides for a total purchase price for the above interests equal to 8,252.9 million euros based upon an implicit unit price for Enersis shares of 215.0 Chilean pesos (equal to 0.28 euros at the exchange rate prevailing as of September 10th, 2014) and net of Endesa Latinoamérica’s structural costs and net liabilities, equal to a negative 144 million euros;

2. the distribution by Endesa of an extraordinary cash dividend, in the total amount of 8,252,972,752.02 euros (equal to 7.795 euros per share), substantially equivalent to the consideration in favour of Endesa agreed upon  for the sale of 60.62% of Enersis to EEE.
The above dividend will be supplemented by an additional extraordinary cash dividend in the form of an interim dividend on 2014 net income of 6.0 euros per share, for a total of 6,352,512,702.00 euros, authorised by the Endesa Board of Directors as part of the updating of the business plan (announced to the market on October 8th, 2014) in order to achieve a more balanced and efficient financial structure for the company.
Both the extraordinary dividends are scheduled for payment on October 29th, 2014, subject to the completion of the sale of Endesa’s interest in Enersis to EEE.


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