Davis Polk Advises Enel SpA on Two Share Swap Transactions

Davis Polk advised Enel SpA in connection with its entry into two share swap transactions with a financial institution to increase its equity stake in its listed Chilean subsidiary Enel Chile S.A. Pursuant to the swap transactions, Enel may acquire up to 1,763,747,209 shares of Enel Chile common stock and up to 6,224,990 of Enel Chile American Depositary Shares, each representing 50 shares of Enel Chile common stock, totaling up to 3.0% of Enel Chile’s share capital. The swap transactions are in line with Enel’s previously announced strategic plan, which foresees the buy-out of minority interests in South America.

Enel is an Italian holding company engaged, through subsidiaries and affiliates, in the integrated production, distribution and sale of electricity and gas in approximately 30 countries across five continents.

The Davis Polk equity derivatives team includes partner John M. Brandow and counsel Justin Michael. The Davis Polk corporate team includes partner Michael J. Willisch and associate Joshua S. Sills. Members of the Davis Polk team are based in the New York and Madrid offices.