Enel denies report of possible Endesa stake sale

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Italian utility Enel denied on Wednesday a press report regarding the possible sale to investment funds of its controlling stake in Spanish unit Endesa.

Spanish paper El Confidencial reported on Wednesday that CVC, Blackstone and KKR were interested in acquiring the utility’s stake in Endesa, valued at 15 billion euros, according to Reuters.

“Enel once again denies any rumour relating to a possible sale of Endesa as purely old groundless speculation,” Enel said in an emailed comment.

Enel, one of Europe’s biggest utilities, owns 70.14 percent of Endesa.

Recently, general manager Francesco Starace announced the completion of 70% of asset sale program, which yielded more than four billion euros. By 2019, Enel wants to sell the assets of six billion euros to finance growth.

In Romania, Enel owns 64.4% of Enel Distribution Muntenia and Enel Energie Muntenia, 51% in Enel Distribution Banat, Enel Dobrogea and Enel Energy Distribution and 100% stake in Enel Romania, writes Agerpres. These companies manage a network of 91,000 km, which distributes about 14 TWh per year (with a market share of 34%), selling about 9 TWh / year to a total of about 2.6 million customers, of which 2.4 million are residential customers (about 20% of the retail market) and 200,000 are companies.

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