The largest electricity company in Greece, Public Power Corp (PPC), has signed an exclusivity agreement with the Italian company Enel for the possible acquisition of its assets in Romania, PPC announced on Wednesday, Reuters reports.

During the exclusive discussions that will take place until the end of January next year, PPC will carry out a financial audit of the assets, according to a statement.

Once the audit is completed, PPC’s board of directors will decide whether to submit a binding offer to Enel, the Greek company added, according to News.ro.

Enel said last month it plans to sell assets worth 21 billion euros ($22.4 billion) to reduce its debt, with most of the plan to be completed by the end of next year.

“We decided to leave Romania because we have reached a point where it is difficult to obtain additional growth in the future. We have ‘saturated’ the space for investments in networks and we have arrived – more or less – in a position on the customer and production segment that no longer offers many possibilities for growth,” previously stated Francesco Starace, CEO and general manager of Enel.