Chile Enersis increases stake in Brazil power unit, seeks more shares
SANTIAGO Feb 17 (Reuters) - Chile-based energy group Enersis said on Monday it had bought $242 million worth of shares of its Brazilian power unit Coelce, raising its stake to 74 percent, and was extending its offer to buy the rest of the company's ordinary shares for three months.
Enersis, the Latin American investment arm of Spanish energy company Endesa, launched a plan last month to buy out Coelce as part of an ambitious expansion strategy.
The company, which has operations in Argentina, Brazil, Chile, Colombia and Peru with installed generation capacity of around 14,832 megawatts, is seeking to tap into growing power demand in booming Latin America.
On Monday it wrapped up the purchase of 15.13 percent of Coelce, bringing its total stake in the Brazilian unit to 74 percent, Enersis said in a statement.
The company is financing the operation with funds raised in a capital increase last year. (Reporting by Felipe Iturrieta and Alexandra Ulmer; Editing by Mohammad Zargham)
© Thomson Reuters 2017 All rights reserved.