SANTIAGO – Enersis shareholders voted at a special meeting to inject capital into Argentine power company Central Dock Sud, or CDS, by purchasing $29 million of CDS debt held by Endesa Latinoamerica.
Enersis, the investment arm of Italy’s Enel, announced the move to bolster Central Dock Sud’s balance sheet on Tuesday.
Shareholders agreed to accept the debt-swap offer made by Pan American Energy in September and approved by oil company YPF.
Pan American Energy and YPF both have interests in CDS, which generates electricity in Buenos Aires.
The shareholders are trying to bolster Central Dock Sud’s equity.
Enersis and YPF will retain 40 percent stakes in CDS, while Pan American Energy will continue to own 20 percent of the power company.