Subsidiary to the Spanish Endesa distributing electricity to 1.6 million customers in the State of Ceara. In 1998, Endesa acquired 51% of the voting rights through a consortium where the group has a 37.6% interest
(Endesa AR97, p. 48).
The company was privatised in April 1998 when 82% of the shares were sold.
The consortium was made up of Groups Endesa and Enersis (Enersis and Chilectra), with 37.55% and 25.92%, respectively, and CERJ, with the balance of 36.43%
After buying up an additional 2.27% of COELCE stock last month (EUWI, 24 July, 4), Endesa now owns -- directly and through CERJ and its Chilean holdings -- 59% of the distributor's capital.