Empresa Electrica del Norte Grande S.A.'s (Edelnor) main shareholders, Suez-Tractebel S.A. and Corporación Nacional del Cobre de Chile (Codelco), agreed to merge their stakes in Edelnor, Electroanadina S.A., Central Térmica Andina S.A., Inversiones Hornitos S.A., Gasoducto Norandino S.A., and Gasoducto Norandino Argentina S.A. This merger might have a significant impact on Edelnor's business and financial profile, given the consolidation in the Northern Interconnected System (SING) market in Chile. After the merger, Suez Tractebel would have a 52.4% stake in Edelnor and Codelco would hold 40%. We revised the CreditWatch implications on Edelnor's 'BB-' ratings to developing from positive. We will analyze the impact of the merger and the company's investment plans and financial policy for the next several years. BUENOS
