By Anthony Shevlin

Enel SpA (ENEL.MI) said Friday it plans to further increase its stake in its listed Chilean subsidiary Enel Americas SA (ENELAM.SN).

The Italian power company said it plans to increase its stake by up to 5%. Enel currently holds a 56.8% stake in the Chilean business.

Enel said the acquisition of the new shares is expected to occur no later than the third quarter of 2020 and is in line with its goal to increase its interest in companies operating in South America.

The deal will be done via two new share-swap transactions and Enel's payment obligations will be funded through internal cash-flow generation, it said.

Write to Anthony Shevlin at anthony.shevlin@dowjones.com

(END) Dow Jones Newswires

June 28, 2019 02:56 ET (06:56 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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