SANTIAGO, Aug 18 (Reuters) - Enersis SA, the Latin American arm of Italian power generator Enel SpA‘s, is looking for opportunities to increase its footprint in Brazil as asset prices in the country have fallen, the company’s chief executive said on Tuesday.
Enersis, which has operations in Argentina, Brazil, Chile, Colombia and Peru, has some $1.3 billion it can use for investments, money left over from a $6 billion capital increase in 2013.
“I think there are opportunities. We’re looking at what happens in different markets, in particular Brazil,” CEO Luca D‘Agnese told journalists on the sidelines of an event.
”The value of assets in countries like Brazil have fallen and we think there is potential for more growth. “It’s an opportunity to buy more with the same amount of money,” he said.
Enersis’ board in July agreed on a long-awaited restructuring plan that aims to streamline its regional operations, wherein a series of divisions and mergers will result in two new companies. (Reporting by Felipe Iturrieta; Writing by Anthony Esposito; Editing by Steve Orlofsky)