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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 14D-1
TENDER U.S. OFFER STATEMENT PURSUANT TO SECTION 14(d)(1) OF
THE SECURITIES EXCHANGE ACT OF 1934
AMENDMENT NO. 8
Empresa Nacional de Electricidad S.A.
(Name of Subject Company)
Duke Energy International, L.L.C.
Duke Energy Corporation
(Bidders)
Common Stock, no par value
(including that represented by
American Depositary Shares) 29244T101
(Title of Class of Securities) (CUSIP Number of Class of Securities)
Carol Graebner, Esq.
General Counsel
Duke Energy International, L.L.C.
5400 Westheimer Court
Houston, Texas 77056-5310
Telephone: (713) 627-6542
Facsimile: (713) 627-5219
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications on Behalf of Bidders)
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Copy to:
Frederick S. Green, Esq.
Ellen J. Odoner, Esq.
Weil, Gotshal & Manges LLP
767 Fifth Avenue
New York, New York 10153-0119
Telephone: (212) 310-8000
Facsimile: (212) 310-8007
(Continued on following pages)
(Page 1 of 14)
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NY2:\377021\01\82WT01!.DOC\42615.0005
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1 NAME OF REPORTING PERSONS: Duke Energy International, L.L.C.
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S.S. OR IRS IDENTIFICATION NO. OF ABOVE PERSONS: 56-2051206
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [x]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS: AF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(e) OR 2(f) N/A
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6 CITIZENSHIP OR PLACE OF ORGANIZATION: State of Delaware
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7 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 0
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8 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (7) EXCLUDES
CERTAIN SHARES N/A
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9 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (7) N/A
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10 TYPE OF REPORTING PERSON OO
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Page 2 of 14
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1 NAME OF REPORTING PERSONS: Duke Energy Global Asset Development, Inc.
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S.S. OR IRS IDENTIFICATION NO. OF ABOVE PERSONS: 88-0366429
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [x]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS: AF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(e) OR 2(f) N/A
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6 CITIZENSHIP OR PLACE OF ORGANIZATION: State of Navada
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7 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 0
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8 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (7) EXCLUDES
CERTAIN SHARES N/A
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9 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (7) N/A
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10 TYPE OF REPORTING PERSON CO
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Page 3 of 14
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1 NAME OF REPORTING PERSONS: Duke Energy Services, Inc.
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S.S. OR IRS IDENTIFICATION NO. OF ABOVE PERSONS: 48-0650320
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [x]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS: AF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(e) OR 2(f) N/A
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6 CITIZENSHIP OR PLACE OF ORGANIZATION: State of Delaware
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7 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 0
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8 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (7) EXCLUDES
CERTAIN SHARES N/A
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9 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (7) N/A
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10 TYPE OF REPORTING PERSON CO
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Page 4 of 14
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1 NAME OF REPORTING PERSONS: PanEnergy Corp.
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S.S. OR IRS IDENTIFICATION NO. OF ABOVE PERSONS: 74-2150460
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [x]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS: AF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(e) OR 2(f) N/A
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6 CITIZENSHIP OR PLACE OF ORGANIZATION: State of Delaware
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7 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 0
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8 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (7) EXCLUDES
CERTAIN SHARES N/A
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9 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (7) N/A
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10 TYPE OF REPORTING PERSON CO
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Page 5 of 14
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1 NAME OF REPORTING PERSONS: Duke Capital Corporation
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S.S. OR IRS IDENTIFICATION NO. OF ABOVE PERSONS: 51-0282142
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [x]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS: BK, WC,OO
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(e) OR 2(f) N/A
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6 CITIZENSHIP OR PLACE OF ORGANIZATION: State of Delaware
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7 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 0
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8 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (7) EXCLUDES
CERTAIN SHARES N/A
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9 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (7) N/A
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10 TYPE OF REPORTING PERSON CO
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Page 6 of 14
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1 NAME OF REPORTING PERSONS: Duke Energy Corporation
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S.S. OR IRS IDENTIFICATION NO. OF ABOVE PERSONS: 56-0205520
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [x]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS: N/A
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(e) OR 2(f) N/A
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6 CITIZENSHIP OR PLACE OF ORGANIZATION: State of North Carolina
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7 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 0
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8 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (7) EXCLUDES
CERTAIN SHARES N/A
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9 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (7) N/A
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10 TYPE OF REPORTING PERSON CO
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Page 7 of 14
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This Amendment No. 8 amends and supplements the Tender Offer Statement
on Schedule 14D-1 filed on February 25, 1999, as amended, by Duke Energy
International, L.L.C., a Delaware limited liability company (the "BIDDER") and a
wholly-owned, indirect subsidiary of Duke Energy Corporation, a North Carolina
corporation ("Duke"), with respect to the offer by Bidder to purchase for cash
up to 501,947,400 shares of Common Stock, no par value (the "SHARES"), of
Empresa Nacional de Electricidad S.A. (the "COMPANY"), a publicly traded stock
corporation (sociedad anonima abierta) incorporated under the laws of the
Republic of Chile, including Shares represented by American Depositary Shares,
each representing 30 Shares and evidenced by American Depositary Receipts.
ITEM 11. MATERIAL TO BE FILED AS EXHIBITS.
EXHIBIT NUMBER DESCRIPTION
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Exhibit (a)(28) Form of proxy to be mailed by Purchaser to holders of ADSs.
Page 8 of 14
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SIGNATURES
After due inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.
Dated: March 22, 1999
DUKE ENERGY INTERNATIONAL, L.L.C.
By: /s/ BRUCE A. WILLIAMSON
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Name: Bruce A. Williamson
Title: President and Chief Executive Officer
DUKE ENERGY CORPORATION
DUKE ENERGY GLOBAL ASSET DEVELOPMENT, INC.
DUKE ENERGY SERVICES, INC.
PANENERGY CORP.
DUKE CAPITAL CORPORATION
By: /s/ BRUCE A. WILLIAMSON
--------------------------------------------
Name: Bruce A. Williamson
Title: Authorized person
Page 9 of 14
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EXHIBIT INDEX
EXHIBIT NUMBER DESCRIPTION
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(a)(28) Form of proxy to be mailed by Purchaser to holders
of ADSs.
Page 10 of 14
EXHIBIT (A)(28)
Page 11 of 14
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The voting instructions must be signed, completed and received by the Depositary
prior to 10:00 a.m. (New York City time) on April 6, 1999 for action to be
taken.
1999 VOTING INSTRUCTIONS AMERICAN DEPOSITARY SHARES
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EMPRESA NACIONAL DE ELECTRICIDAD S.A. (THE "COMPANY")
ADS CUSIP No.: 29244T101
ADS Record Date: March 8, 1999
Meeting Specifics: Extraordinary Shareholders' Meeting - April
8, 1999, 11:00 a.m. (local time) at the
Teatro Teleton, Rosas Street 1531, Santiago,
Chile
Meeting Agenda: Please refer to the Company's Notice of
Meeting enclosed.
Depositary: Citibank, N.A.
Deposit Agreement Deposit Agreement, dated as of August 3,
1994
Deposited Securities: Shares of Common Stock, without nominal
value of the Company
Custodian: Citibank, N.A. - Chile
The undersigned holder, as of the ADS Record Date, of the American Depositary
Receipt(s) issued under the Deposit Agreement and evidencing the American
Depositary Shares identified on the reverse side hereof (such American
Depositary Shares, the "ADSs"), acknowledges receipt of a copy of the
Depositary's Notice of Shareholders' Meeting and hereby irrevocably authorizes
and directs the Depositary to cause to be voted at the Meetings (and any
adjournment or postponement thereof) the Deposited Securities represented by the
ADSs in the manner indicated on the reverse side hereof.
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Please indicate on the reverse side hereof how the Deposited Securities are to
be voted.
The Voting Instructions must be marked, signed and returned on time in order to
be counted.
By signing on the reverse side hereof, the undersigned represents to the
Depositary and the Company that the undersigned is duly authorized to give the
Voting Instructions contained herein.
Page 12 of 14
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EMPRESA NACIONAL DE ELECTRICIDAD S.A.
<TABLE>
<CAPTION>
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ISSUE FOR AGAINST ABSTAIN
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<S> <C> <C> <C>
EXTRAORDINARY SHAREHOLDERS' MEETING
1. Approval to modify the maximum shareholding [ ] [ ] [ ]
concentration limit set forth in Article 5 bis of
the Company's bylaws from 26% to 65% by replacing
the number "26" in the present text of Article 5
bis of the Company's bylaws with the number "65",
and also replacing the concentration factor of "1"
contained in that Article by the number "0.6", in
accordance with the requirements of DL 3,500, and
incorporating other modifications to the bylaws
that are necessary for providing coherence to this
change.
2. Approval of the adoption of the necessary [ ] [ ] [ ]
agreements to implement the bylaw amendments
stated above.
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</TABLE>
If these Voting Instructions are signed and timely returned to the Depositary
but no specific direction as to voting is marked above as to an issue, the
undersigned shall be deemed to have directed the Depositary to give voting
instructions "ABSTAIN" the unmarked issue.
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Please sign your name to the Voting Instructions exactly as printed below. When
signing in a fiduciary or representative capacity, give full title as such.
Where more than one owner, each MUST sign. Voting instructions executed by a
corporation should be in full corporate name by a duly authorized officer with
full title as such.
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Please Sign Here exactly as your name(s) appear(s) to the left
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Dated:
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When signing as attorney, executor, administrator, trustee,
guardian or in another representative capacity, please give
full title.
Page 13 of 14
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[ENDESA LOGO]
EXTRAORDINARY SHAREHOLDERS' MEETING
-----------------------------------
In accordance with Articles 9 and 10 of Law No. 18,045, please be
informed that the Board of Directors has called an Extraordinary Meeting of
Shareholders to be held on April 8, 1999 at 11:00 a.m. in the Teatro Teleton,
Rosas 1531, Santiago. On February 26, 1999, the Board of Directors originally
announced an Extraordinary Meeting of Shareholders to be held on April 6, 1999.
On March 5, 1999, the Board of Directors announced the date of such meeting was
changed to April 8, 1999. The meeting has been called to vote on the following
matters:
1. Modification of the maximum shareholding concentration limit set forth
in Article 5 bis of the company's bylaws from 26% to 65% by replacing
the number "26" in the present text of Article 5 bis of the Company's
bylaws with the number "65, and also replacing the concentration factor
of "1" contained in that Article by the number "0.6", in accordance
with the requirements of DL 3,500, and incorporating other
modifications to the bylaws that are necessary to implement this
change.
2. Adoption of the necessary agreement to implement the bylaw amendments
stated above.
Page 14 of 14
