(News Bulletin 247) – Today, Enel signed an agreement with the Greek company Public Power Corporation (PPC) for the sale of all the stakes held by the Enel Group in Romania.
The agreement provides that PPC will pay a total amount of approximately 1,260 million euros, equivalent to an enterprise value of approximately 1,900 million euros. The total price is subject to the usual adjustments for this type of transaction.
‘We continue to implement the disposal plan announced during the presentation of Enel’s 2023-2025 strategic plan,’ said Francesco Starace, Managing Director of the Enel group, convinced ‘that a leading international player such as PPC will continue this success story’.
The overall transaction should generate a total positive effect on the Group’s consolidated net debt of around €1.7 billion. On the other hand, the transaction should not have any impact on the Group’s ordinary economic results.
The finalization of the sale is expected for the third quarter of 2023.
The transaction is in line with the group’s current strategic plan, which envisages the repositioning of Enel in higher growth countries where it has an integrated presence, namely Italy, Spain, the United States, Brazil, Chile and Colombia.
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