Italian utility group Enel has abandoned the plans to sell minority stakes in its Romanian subsidiaries, according to sources familiar to the deal quoted by Economica.net.

"Enel no longer sells, it treats Romania as one of the important, strategic markets for the group," the sources said.

The company refused to make any official comment, just like it refused to confirm in the past the discussions regarding the sale of minority stakes in the companies it controls in Romania.

Since July 2019, rumours have been circulated about Enel exploring the option of selling part of its assets in Romania. At some point, there was a rumor that the group had evaluated the assets potentially for sale at EUR 1 billion. This was interpreted as Enel going to sell only some minority stakes. Later, sources also in Romania confirmed the intention.

Enel was reportedly considering a joint deal with Fondul Proprietatea, which has minority stakes in Enel's companies that it would also like to sell.

Enel Romania is one of the largest private investors in the energy sector, with operations in the electricity distribution and supply sector, but also in the production of electricity from renewable sources (Enel Green Power) and innovative solutions (EnelX). The Italian group has been active on the market from Romania since 2005.

Enel has approximately 3,100 employees in Romania and offers services to 3 million customers.

editor@romania-insider.com

(Photo source: Enel)