Carey advises Endesa Chile

Carey advised Empresa Nacional de Electricidad S.A. (Endesa Chile) in the negotiation and execution of a share purchase agreement with Enagás Chile, subsidiary 100% controlled by the Spanish company Enagás S.A., by which Enagás Chile will acquire the entire stake of GNL Quintero S.A. owned by Endesa Chile, corresponding to a 20% shareholding.

The sale of the stake to Enagás Chile is subject to satisfaction of conditions precedent customary for this type of transactions, including the lack of exercise of the first offer right by the other shareholders of GNL Quintero S.A., pursuant to the terms and conditions provided in the shareholders' agreement between the shareholders of such company. It is expected that the closing and transfer of shares take place during the second term of this year.

Carey acted as local counsel to Endesa Chile through Partners Alfonso Silva and Salvador Valdés and associate Cristián Figueroa.

Claro y Cía. acted as local counsel to Enagás Chile through partner José Luis Ambrosy.

Linklaters as US counsel to Enagás Chile.

In-house lawyers

From Enel (indirect controller of Endesa Chile): Joaquín Valcarcel

From Endesa Chile: Ignacio Quiñones and Carlos Silva.

Financial advisors: Banco Santander.