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SANTIAGO, Aug 11 (Reuters) - A Chilean pension fund and shareholder in Enersis SA, Italian power generator Enel SpA's Latin American arm, is heading to court to try to have a greater say in a restructure that it thinks is unfair.
AFP Habitat is appealing a decision by the local securities regulator to not treat the restructuring of Enel's Latin American assets as a related party transaction, according to a filing with the court of appeals this week.
A related party transaction would have implied greater independent scrutiny and was requested by Chile's influential pension fund shareholders.
Habitat is Enersis' top pension fund shareholder with a 2.4-percent stake in the Santiago-listed company, according to Thomson Reuters data.
Enel, which owns a controlling stake of just over 60 percent in Enersis, has been turning its attention away from Europe and toward its Latin American assets.
As well as putting its own managers in place, it wants to create a simplified structure for Enersis and its related subsidiaries, Endesa Chile and Chilectra.
The pension funds argue, however, that the company's plan to divide the assets into two companies - one for Chile and one for the rest of the Latin America - may not be in the best interest of all existing shareholders.
Enersis could not immediately be reached for comment. (Reporting by Rosalba O'Brien and Felipe Iturrieta, editing by G Crosse)