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Enel could completely cancel the sale of Romanian assets, market sources said for energynomics.ro. “From what I understand, Enel covered its financing needs of the foreign markets and would not need to sell assets in Romania”, the source told us. Moreover, Enel Group’s press office said that the sale of assets has been temporarily suspended in Romania, Agerpres notes.
“Enel confirms that the sale of assets in Romania has been temporarily suspended. Sale of Enel Romania assets was part of a larger program that aimed at cashing transactions of up to four billion euro by the end of 2014, to reduce consolidated net debt. Following the successful completion of several initiatives during 2014, this target has been reached. Therefore, the Board of Directors will decide on any plans to continue this program in the context of the new strategy of the group, and more details will be given in March”, the company states.
In July last year, Enel announced that its board has agreed on a plan to sell its assets in Slovakia and Romania. The sales are part of a broader program of asset sales worth six billion euros, started in 2013, aimed at reducing Enel’s debt.
For assets in Romania, it is about companies that manage a power network of 91,000 kilometers which distributes approximately 14 TWh of energy per year (with a market share of 34%), selling about 9 TWh / year to 2.6 million customers, of which 2.4 million are residential customers (about 20% of the retail market) and 200,000 are companies.
