Romania, Enel sale expected to be completed in early 2023

, SEE Energy News

The total value of Romanian assets of Italian Enel (electricity distribution, supply and renewable energy generation) is estimated at between 1.8 and 1.9 billion euros, with the sale expected to be completed in early 2023, in April at the latest.

Among the main contenders for the purchase is Greek state-controlled Public Power Corporation (PPC), which recently said that it is looking for potential acquisitions in Romania and Bulgaria. Although the Greek utility denied interest in Enel Romania, there is a strong connection between the two companies, since current CEO of PPC Georgios Stassis was the CEO of Enel Romania between 2016 and 2019. It is rumored that PPC is offering 1.8 billion euros for Enel’s Romanian assets and it is being assisted by Goldman Sachs in the process.

Besides PPC, two funds are also interested in the acquisition of Enel Romania – Canadian Brookfield Asset Management and UK-based Amber Infrastructure.

According to its strategy for 2023-2025 period, Italian energy group Enel is planning to sell its Romanian assets and exit the country in 2023.

In Romania, the Enel Group serves about 3 million customers through its supply and distribution network. It is one of the largest private investors in the Romanian energy sector.