Enel Green Power IPO still planned to proceed in October
Lardarello geothermal power plant owned by Enel, Tuscany/ Italy (source: flickr/anners)
Alexander Richter
2 Jun 2010
Enel SpA, Italy’s biggest utility, sees “no delays” for the initial public offering of its Enel Green Power unit planned for October, Chief Executive Officer Fulvio Conti told reporters in Rome.
Reported in Europe, “Enel SpA, Italy’s biggest utility, sees “no delays” for the initial public offering of its Enel Green Power unit planned for October, Chief Executive Officer Fulvio Conti told reporters in Rome.”
Enel Green Power is one of the largest geothermal power plant operators and is developing projects in the U.S. and Latin America and as well in Spain.
“We are evaluating the offers we received from banks. The process is going on,” Conti said today. The Enel chief sees “no problems” in the process.
“The IPO of Enel Green Power, which manages wind, solar, biomass, hydroelectric and geothermal power generation in 17 nations in Europe and the Americas, is the centerpiece of Enel’s plans to sell 7 billion euros ($8.6 billion) of assets to reduce debt to 45 billion euros this year from 51 billion euros.”
Source: Bloomberg
Enel, based in Rome, expects to raise about 4 billion euros in the share sale, Conti said April 9. The Italian company is also considering selling a stake in the unit to a single buyer.
Sintonia, the Benetton family’s infrastructure vehicle, is considering buying a stake in the unit, Gilberto Benetton told Corriere della Sera May 23.”
