State Grid Corp. of China interested in Enel’s Romania assets

0

Get real time updates directly on you device, subscribe now.

The Italian utility company, Enel is committed to sell more than EUR 4 billion of assets this year to slash its debt and keep its investment-grade rating. “There are Chinese companies interested in both Romania and Slovakia,” Enel CEO Francesco Starace told Reuters reporters. He said State Grid Corporation of China had expressed an interest in its Romanian distribution and generation assets. State Grid Corp., the world’s largest utility by revenues, has bought minority stakes in Portuguese and Italian grid operators and is also looking at Greece and Spain.
Besides its Romanian and Slovakian assets, the Italian state-controlled group also plans to sell part of its 92 percent stake in Spanish utility Endesa.
According to the contract for the privatization of Electrica Muntenia Sud, Enel is required to grant the Romanian government the right of first refusal when it comes to buying back its stake in the aforementioned company. The Romanian authorities have not yet received an offer from Enel for the companies that the Italian group owns, but they are seriously considering the possibility of resuming control of the distribution and supplying of electricity in the Muntenia Sud area.
On the other hand, Czech power company CEZ has also openly expressed interest in Enel’s sales of Romania and Slovakia.
Enel’s distribution and supply businesses in Romania generate annual consolidated turnover of EUR 1.1 billion, and the Italian company aims to find a buyer before year-end.

- Advertisement -

Leave A Reply

Your email address will not be published.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More