• Endesa Chile, along with its subsidiary, Compañía Eléctrica Tarapacá, accepted the binding offer made by a private fund managed by Independencia S.A., for Ch$25,000 million, equivalent to US$41 million. The estimated effects on Endesa Chile, as the controlling shareholder, are for a financial gain of approximately US$7 million.• The sale of the El Melón Tunnel is part of the process of selling the Group's non-core or non-strategic assets.

January 09, 2015.  On January 9th Endesa Chile, together with Compañía Eléctrica Tarapacá, formalized the agreement made by  the Board of Directors on December 18, 2014, date on which the binding offer by a private fund managed by Independencia S.A. was approved, for 100% of the subsidiary Túnel El Melón S.A. (TEMSA) for Ch$25,000 million, equivalent to US$41 million.

In this way, after the Ministry of Public Works (MOP) was notified of the change in ownership of the shares in the company, as per that provided in Article 30 No. 5 of the Concession Regulations, both companies realized the final closure of the sale contract.

Among the award criteria, it was taken into account that the acquiring company would guarantee excellence in service continuity of the El Melón Tunnel as well as concern for its workers. Independence has more than 25 years of experience in real estate investments and currently manages assets of over US$1,800 million. 

The sale of TEMSA is part of the process of selling non-core and non-strategic assets that Endesa Chile's parent company, Enersis, began in 2010.

The estimated effects on Endesa Chile, as controlling shareholder, amount to a financial gain of approximately US$7 million.

Description of the El Melón Tunnel.  The El Melón Tunnel is the first public works in Chile granted in a private concession, awarded in 1993. It was commissioned in 1995 and the concession period ends on June 2016. It consists of a 4-lane road, a 2-lane road in the 2.5 kilometer tunnel, and 6 two-way toll booths.

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