September 1, 2017 / 9:56 AM / a year ago

Enel CEO says Chile reorganisation is deal worth less than $3 bln

CERNOBBIO, Italy, Sept 1 (Reuters) - The reorganisation of Enel’s business in Chile is an operation worth less than $3 billion, the utility’s CEO said on Friday.

“The second reorganisation in Chile has begun and the value is less than $3 billion,” Francesco Starace said on the sidelines of a meeting near Milan.

Italy’s biggest utility is looking to reorganise its business in Chile by lumping together its green energy business and its conventional operations.

The deal will include a bid on the minorities of its Enel Generacion unit by Enel Chile.

On Thursday Italian paper MF said the operation could easily be worth more than $3 billion.

Reporting by Giancarlo Navach, writing by Stephen Jewkes; Editing by Isla Binnie

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