Fondul Proprietatea has been notified of the right to participate in the sale of shares in the share capital of Enel Energie Muntenia and E-Distributie Muntenia.
As a reminder, Italian energy group Enel recently announced that it will sell its Romanian operations to Public Power Corp, Greece’s largest utility, for 1.26 billion euros as part of a plan to reduce debt and focus on green energy. .
According to the Exchange’s statement, the Fund is reviewing its strategic options in the context of the notice of right to participate in the sale as part of its ongoing commitment to increase shareholder value.
“Any potential sale under the right to participate in the sale, if consummated, will be subject to the completion of the agreement between Enel and PPC. Further announcements will be made when they become relevant,” FP said.
What Fondul Proprietatea said in the latest report on Enel
Starting from the second half of 2021, companies are experiencing a crisis situation that has affected the entire energy sector due to the increase in energy prices, as well as due to legislative changes that introduced state support schemes for end consumers in the electricity and natural gas market until March 31, 2025, the message states. .
“In December 2021 and March 2022, the boards of directors of the two companies approved contracts for bridging financing programs from banks in the amount of EUR 235 million for Enel Energie and EUR 255 million respectively for Enel Energie Muntenia to cover current financing needs. “, the cited source notes.
In August 2022, taking into account the fact that the need for current financing increased, and the banks with which the companies already had contractual lines of financing could not react in the optimal time, the management determined an emergency solution, namely the attraction of loans from shareholders – the financial division of Enel Group , namely Enel Finance International NV, in the amount of EUR 250 million for Enel Energie and EUR 125 million for Enel Energie Muntenia.
Fondul Proprietatea owns 12% each of Enel Energie and Enel Energie Muntenia.
Source: Hot News
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