Enel Agrees to Sell Romanian Assets to Greek PPC
09 Marzo 2023 - 12:55AM
Noticias Dow Jones
By Giulia Petroni
Enel SpA has agreed to sell its Romanian operations to Greek
company Public Power Corp. SA for a total consideration of around
1.26 billion euros ($1.33 billion) as part of its disposal plan for
the 2023-25 period.
The Rome-based energy player said on Thursday that the
transaction is expected to generate a cumulative negative effect of
around EUR1.4 billion on the group's net profit in 2022-23 and a
positive effect of around EUR1.7 billion on net debt, of which
almost EUR100 million in 2022 and the remaining amount in the
current year.
The equity stakes sale's total consideration is subject to
adjustments and is equivalent to en enterprise value of around
EUR1.90 billion, Enel said.
Closing is expected by the third quarter of 2023, subject to
conditions including clearance from antitrust authorities.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
March 09, 2023 01:40 ET (06:40 GMT)
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