Enel may sell part of assets in Romania, but said to plan keeping majority stakes - sources

Miercuri, 3 iulie 2019, 16:25 English | Business

Italian company Enel is said to consider the selling of assets it holds in Romania, amounting to Eur1 billion, for which three investment funds are interested, according to Money.it website quoted by Romanian media. Market sources have told HotNews.ro that the talk is not about selling majority stakes, but possibly of minority ones, along those held in Enel companies by the Proprietatea Fund.

It is said it all started from an announcement of Proprietatea Fund two years ago that it was selling stakes it held in Enel companies in Romania and in Engie Romania. The Fund controls between 12-24% of these companies (Enel Energie, Enel Energie Muntenia, E-Distributie Muntenia, E-Distributie Dobrogea, E-Distributie Banat).

Some investment funds are interested in these stakes held by Proprietatea Fund but are trying to get an extra from Enel-held stakes. But, if they happen, these transactions would make sure the Italian company remains a majority stakeholder there, according to HotNews.ro sources. The same sources said the selling of shares was not certain in any case.