Romania: Games over Enel assets, China grid vs others

5. December 2014. / SEE Energy News

RCS & RDS had entered the race for the takeover of electricity distribution and supply from Enel Romania. So far, only companies Nuclearelectrica and Electrica officially announced that they submitted offers. In the market, there have been reports that other competitors like E.ON and GDF Suez, along with State Grid Corporation of China are interested in takeover of Enel Romania assets.

Romanian energy companies have submitted bids for all three distributions Enel (Banat and Dobrogea EMS). Despite the expressed interest from China grid corporation, Romanian side did not transmited positive feedback to their interest.

Chinese interest to offer less money on assets of Enel, Romanian State entered the game with two companies to pull down the price and discourage Chinese state company, and Enel adopted a more relaxed attitude, to obtain of course, the desired amount of the transaction, which is not insignificant.
Enel has put on sale a package of 17- 22% of the Spanish company Endesa utilities, along with assets in Slovakia and Romania. Italian group idea was to create multiple options so the company should never be placed in the corner and not be forced to sell at any price.

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