By Ed Frankl

 

Enel SpA said late Wednesday that it had entered exclusive talks with Greece's Public Power Corporation SA for the sale of its Romania operations.

The Italian utility said that until the exclusivity period ends at the end of January the companies will negotiate terms and PPC will carry out due diligence.

After completing due diligence, PPC will decide whether to submit a binding offer to Enel, the Rome-based company said.

Enel said in November that it planned asset sales worth around 21 billion euros ($21.5 billion) to cut debt and boost investments.

 

Write to Ed Frankl at edward.frankl@dowjones.com

 

(END) Dow Jones Newswires

December 15, 2022 01:24 ET (06:24 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.
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