Enersis Awards Aguas Cordillera to the Chilean EMOS.Business Editors NEW YORK--(BUSINESS WIRE)--June 1, 2000 - EMOS EMOS Environmental Management Overview Strategy EMOS EOS Mission Operations System EMOS Earth Mean Orbital Speed EMOS East Mediterranean Optical System EMOS Entry Military Occupational Specialty EMOS Erasable Metal-Oxide Semiconductor offered $193 million for the company, against $179 million offered by Inversiones Biwater. - The sale of the company will be materialised in the coming weeks, once approval is received form the Chilean Comision Resolutiva. - This transaction is conducted as part of the divestiture plan set forth in within the Genesis Project, designed by Endesa. Endesa S.A. (NYSE NYSE See: New York Stock Exchange :ELE ELE equine leukoencephalomalacia. ) announced that its Chilean affiliate Enersis has concluded the open bid process for the disposal of its affiliate Aguas Cordillera cor·dil·le·ra n. An extensive chain of mountains or mountain ranges, especially the principal mountain system of a continent. [Spanish, from cordilla, diminutive of cuerda, cord as part of the divestiture plan of non-core assets established by the Genesis Project. The company has been awarded to the Chilean Empresa Metropolitana de Obras Sanitarias (EMOS) - participated by the Spanish Aguas de Barcelona - which submitted the highest bid price for a total consideration of $193 million, with UK-based Inversiones Biwater ranking second in the process with a bid price of $179 million. The disposal of Aguas Cordillera has been conducted through an open public tender awarding to the highest bidder HIGHEST BIDDER, contracts. He who, at an auction, offers the greatest price for the property sold. 2. The highest bidder is entitled to have the article sold at his bid, provided there has been no unfairness on his part. according to the rules established by the Chilean Comision Resolutiva. The open bid process was developed in two phases. During the first phase, which took place between 12 and 17 April, confidentiality agreements were signed and bid envelopes were sold to the interested parties. During the second phase, which took place between 20 April and 30 May, due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. was conducted, which included data room access, company visits and meetings with the company's management. After the award, and in order for the transaction to be materialised, EMOS has five days to deliver all relevant documents to the Chilean Comision Resolutiva, as established by the latter in the resolution released on 27th March which allowed the Enersis Group to proceed with the disposal. Aguas Cordillera serves 88,000 customers in three districts of metropolitan Santiago de Chile (Vitacura, Las Condes, and Lo Barnechea). In the first quarter net income was $3.55 million with an operating income Operating Income The profit realized from a business' own operations. Notes: This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. of $ 4.48 million. |
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