Enel, an Italian multinational manufacturer and distributor of electricity and gas, offered to acquire a 10% stake in its Chile-based subsidiary Enel Americas for $1.4bn. The offer is conditional upon the effectiveness of the merger by incorporation of EGP Américas into Enel Américas, that is expected to occur on April 1, 2021. The deal was subject to certain conditions precedent, which were all fulfilled prior to the launch of the offer.