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February 1, 2023

Enel could give up selling Romanian subsidiaries

Italian utilities group Enel could keep its subsidiaries in Romania and Slovakia if it is able to obtain sufficient funds from other transactions in order to lower its debt, even though it has received initial offers for these assets, Luca d’Agnese, head of Enel’s Eastern Europe operations, stated in an interview for ‘The Wall Street Journal,’ quoted by Agerpres.
In Romania the Italian company owns three former Electrica electricity distribution and supply branches in Southern Muntenia, including Bucharest, Banat and Dobrogea. According to press reports, the E.On and GdfSuez European energy groups and China’s State Grid Corporation are interested in buying Enel’s Romanian assets.
Moreover, the Romanian state would be interested in buying back the Enel electricity distribution branches, or at least some of them. Thus, Electrica, a company that was recently listed on the stock exchange and that includes the other three distribution companies (Muntenia Nord, Transilvania Nord and Sud), and Nuclearelectrica are also interested in buying Enel’s assets.
Enel previously announced that it wants to sell 64.4 per cent of Enel Distributie Muntenia and Enel Energie Muntenia, 51 per cent of Enel Distributie Banat, Enel Distributie Dobrogea and Enel Energie, and 100 per cent of the Enel Romania services company (owned through Enel Investment Holding BV).

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