Enel: pens sale of Romanian business
(CercleFinance.com) - Today, Enel signed an agreement with the Greek company Public Power Corporation (PPC) for the sale of all the holdings of the Enel Group in Romania.
The agreement provides that PPC will pay a total of approximately E1,260m, equivalent to an enterprise value of approximately E1,900m. The total price is subject to customary adjustments for such transactions.
The group says that this is part of its ongoing divestment plan announced in Enel's 2023-2025 strategic plan.
The overall transaction is expected to generate a total positive effect on the Group's consolidated net debt of approximately E1.7bn. However, the transaction is not expected to have an impact on the Group's ordinary financial results.
The sale is expected to be completed in Q3 2023.
Copyright (c) 2023 CercleFinance.com. All rights reserved.
The agreement provides that PPC will pay a total of approximately E1,260m, equivalent to an enterprise value of approximately E1,900m. The total price is subject to customary adjustments for such transactions.
The group says that this is part of its ongoing divestment plan announced in Enel's 2023-2025 strategic plan.
The overall transaction is expected to generate a total positive effect on the Group's consolidated net debt of approximately E1.7bn. However, the transaction is not expected to have an impact on the Group's ordinary financial results.
The sale is expected to be completed in Q3 2023.
Copyright (c) 2023 CercleFinance.com. All rights reserved.