Tuesday, October 27, 2015

Italy: Enel Considers EGP Integration

Italy's Enel mulls integration of renewables unit (Financial Times)

State-controlled Italian energy group Enel is considering an integration of its renewables subsidiary Enel Green Power (EGP). The companies' boards are examining the possibility and have selected advisers for the potential move.

"The possible implementation of this corporate integration is not due to involve any public offer by Enel to purchase and/or exchange EGP shares," Enel said in a statement, published in response to reports in the media.

They added that “Enel and EGP will promptly inform the market of any decisions adopted by their respective boards concerning the transaction”.

No further details were given. Enel already owns 69 per cent of EGP.

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