Enel granted option to buy 13.7 stake in Electrica Muntenia Sud

Newsroom 24/08/2012 | 10:30

The Romanian Government approved on Thursday a bill that allows power company Electrica to sell a 13.7 percent stake in one of its branches to Italian utility Enel that already controls 64.4 percent of the power supply and distributor.

The Finance minister, Florin Georgescu, said earlier this month the Government would get around 375 million from selling this minority stake to Enel and the money will be put in upgrade works.

Enel purchased from state-owned Electrica in 2007 a 50 percent stake in Electrica Muntenia Sud for EUR 395 million, and boosted the share capital by another EUR 425 million.

As a result of this move, Enel owns 64.4 percent of the shares, while the Property Fund and Electrica have 12 percent and 23.6 percent.

Enel Distributie Muntenia, the distribution arm, has a budgeted profit of RON 150 million (EUR 33 million) this year and an estimated turnover of RON 872 million (EUR 194 million).

Ovidiu Posirca

BR Magazine | Latest Issue

Download PDF or read online: December 2022 Issue | Business Review Magazine

The December 2022 issue of Business Review Magazine is now available in digital format, featuring the main cover story titled “Xclusiverse: Going Beyond the Traditional Ways of Doing Business.”
Newsroom | 19/12/2022 | 18:45

    You will receive a download link for the latest issue of Business Review Magazine in PDF format, based on the completion of the form below.

    I agree with the Privacy policy of business-review.eu
    I agree with the storage and handling of my data by business-review.eu
    Advertisement Advertisement
    Close ×

    We use cookies for keeping our website reliable and secure, personalising content and ads, providing social media features and to analyse how our website is used.

    Accept & continue