SANTIAGO Dec 20 Shareholders of Chile's Enersis
on Thursday approved a controversial planned capital
increase of roughly 5.898 billion, the biggest in the country's
history, that will position Enersis as the region's leading
The approval caps a months-long tussle between Chile's
powerful pension funds and Enersis over the amount of
the capital hike, intended to fund acquisition opportunities and
raise stakes in firms in which it already has a participation.
The increase was originally set at $8.02 billion, but
minority shareholders argued that assets Enersis' parent
company, Spanish energy company Endesa, planned to use
to subscribe to its portion of the share issue were overpriced.