Italian utility group Enel, Europe’s biggest utility group and one of the largest foreign investors in the energy sector in Romania, has started discussions for the sale of minority stakes in its local subsidiaries, according to unofficial sources quoted by Economica.net.

The Italian group reportedly wants to bring in, as shareholders, investment funds that have experience in the energy sector, according to market sources.

Since the beginning of the year, representatives of the Italian company have already visited the energy market regulator ANRE, together with representatives of potential buyers, in order to notify the authority about their plans, according to the same sources.

“As we said in the past, we regularly evaluate global assets, based on the Group's expanded strategy of portfolio efficiency and optimization by rotating assets. We will properly inform the market if such developments occur," the company’s representatives answered, when asked to comment on the negotiations.

Enel’s intention to exit or sell part of its assets in Romania is older. Last year, new information appeared that Enel kicked off the sale of its operations in Romania in a process led by French bank BNP Paribas and expected to value the assets put up for sale at about EUR 1 billion, Reuters announced in September quoting unofficial sources.

Enel has been active on the Romanian market since 2005, with operations in power distribution and supply as well as renewable energy generation. Enel Energie and Enel Energie Muntenia are leading suppliers of energy nationwide, serving 3.1 million customers. The group also controls the power distribution networks in Romania’s South Muntenia, Banat and Dobrogea regions, and large wind parks in Dobrogea.

(Photo courtesy of the company)

editor@romania-insider.com