Enel Chile has signed an agreement with Sociedad Transmisora Metropolitana and its controlling company Inversiones Grupo Saesa to sell its 99.09% stake in Enel Transmisión Chile for an equity consideration of USD 1.345 billion, equal to USD 1.526 million of enterprise value. The transaction will be carried out as a full takeover bid following regulatory approval from Chile’s antitrust authority FNE Following completion of the full takeover bid, Sociedad Transmisora Metropolitana will acquire the entire stake held by Enel Chile in Enel Transmisión Chile and repay the latter’s intercompany loans. The closing of the transaction is expected by the end of the year. Enel Transmisión Chile operates 683 km of transmission lines, managing 60 substations in Santiago’s metropolitan area. Inversiones Grupo Saesa is the second largest electricity distributor in Chile in terms of geographic coverage. It supplies electricity to around 950,000 customers and operates 63,476 km of distribution lines, 2,280 km of transmission lines and 75 substations. In addition, it owns 275 MW of wind, hydropower and diesel generation capacity.