Romania: Enel gives up sale of assets?

8. October 2014. / SEE Energy News

Enel could give up the sale of their operations in Romania, unless they can get EUR 1.8 billion out of that deal. Enel requested a 500 million euro bonus for selling bundled the three distributions that would have accumulated a fair enough market share in energy supply.

“Enel has to sell assets to cover some debts and needs to get EUR 1.8 billion from the sale of three energy distributions it holds in Romania. From our evaluations, they will not get more than EUR 1.2 to 1,300,000,000 “, said the sources in Romanian medias.

Enel requested a 500 million euro bonus for selling bundled the three distributions that would have accumulated a fair enough market share in energy supply.

“Sales cannot be done as a package, because none of the privatization of three distributions was made to be over. There are different privatization contracts with different conditions “, added the sources on Bucharest stock market. They said that there was a company in China which would be willing to pay including the bonus, but the Romanian state wouldn’t like Chinese coming to control Enel Dobrogea, because in this area there is an American military base.

Besides Electrica and Nuclearelectrica, other companies are interested in taking over Enel’s operations like the German’s E.ON and France’s Electricite de France, the sources added. “There is currently a 50-50% chance for Enel to give up the sale of Romania and sell assets in other countries to cover their debts,” the sources stressed.

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