...MEXICO CITY (S&P Global Ratings) Aug. 29, 2017-- S&P Global Ratings said today that its ratings on Enel Chile S.A. (Enel Chile; ###+/Stable/--) and its subsidiary Enel Generacion Chile S.A. (Enel Generacion Chile; ###+/Stable/--) are not immediately affected by the announcement that it has proposed to its parent Enel SpA (Enel; ###/Positive/A-2) a merger of Enel Green Power Chile and Enel Chile. Through the merger, all of the power generation operations of Enel in Chile, conventional as well as non-conventional renewable, would be further handled by Enel Chile through its affiliates. The merger with Enel Green Power Chile will only happen if Enel Chile increases its ownership in Enel Generacion Chile above 75%. This involves a tender offer that Enel Chile would carry out to acquire up to 100% of the shares of Enel Generacion Chile owned by minority shareholders. The tender offer would be paid for partly in cash and partly in shares issued by Enel Chile, and would be subject to the condition...
