Enel Agrees to Sell Peruvian Power Generation Assets for Around $1.4 Billion
22 November 2023 - 7:59AM
Dow Jones News
By Giulia Petroni
Enel has agreed to sell its Peruvian power generation assets to
Niagara Energy for a total consideration of about $1.4 billion.
The Rome-based energy company said Wednesday that the
transaction is expected to have a positive impact on net income of
around 60 million euros ($65.5 million) next year, and to reduce
consolidated net debt by around EUR1.6 billion between 2023 and
2024.
Peruvian company Niagara Energy is set to acquire the stakes
held by Enel Americas and Enel Peru in Enel Generacion Peru through
a takeover bid, and those held by Enel Peru in Compania Energetica
Veracruz. The overall enterprise value of the assets amounts to
around $2.1 billion.
"The transaction is in line with the group's strategic
priorities, which envisage the repositioning of Enel on countries
where the group has higher growth potential as well as an
integrated presence, namely Italy, Spain, the United States,
Brazil, Chile and Colombia," Enel said.
Closing is expected in the second quarter of next year, subject
to conditions that include antitrust clearance in Peru.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
November 22, 2023 01:44 ET (06:44 GMT)
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