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Nuclearelectrica takes into account the acquisition of several Enel operations

Nuclearelectrica analyses the possibility of acquiring several operations of Enel in Romania, but no offer has been submitted yet. The decision will be discussed by company shareholders, the company announced.

2014-09-22 09:47:11

Last year, Nucleaelectrica announced is planned to diversify the portfolio. In June this year, Enel board announced sales by the Enel Group would include its generation assets in Slovakia and its distribution and sales assets in Romania.

In Romania, the sale would involve the 64.4 per cent stake in Enel Distributie Muntenia SA and Enel Energie Muntenia SA, the 51 per cent stake in Enel Distributie Banat SA, Enel Distributie Dobrogea SA and Enel Energie SA, as well as the 100 per cent interest in the services company Enel Romania Srl (held by Enel through Enel Investment Holding BV). These companies manage a power grid of about 91,000 kilometres in the regions in which they operate, distributing about 14 TWh of electricity a year (with a domestic market share of 34%) and selling nearly 9 TWh a year to about 2.6 million customers, of which 2.4 million are residential customers (with a domestic market share of 20 per cent) and 0.2 million are businesses (with a domestic market share of 38 per cent). In 2013, those companies had revenues of 1,118 million Euro and EBITDA of 289 million Euro (consolidated figures).

The sale of the holdings in Slovakia and Romania are part of a broader 6-billion-euro programme of asset sale begun in 2013, aimed at reducing the Enel Group financial debt. To date, some 1.6 billion Euro in sales have been completed. The Slovakian and Romanian assets, together with other non-strategic assets, will contribute more than the residual target of 4.4 billion Euro, giving the programme a necessary degree of flexibility, the company stated at that time.



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