Talks with ENEL nearing completion

A delegation of Italian Enel Group, which is currently in talks with the Economy and Trade Ministry over the acquisition of two Electrica branches is due to arrive in Romania this week to finalise negotiations. “We invited Enel’s chairman Paolo Scaroni to come to Romania to complete the talks. We were notified that an Enel delegation would be in Bucharest to continue the negotiations, ” Dan Ioan Popescu, Economy and Trade minister on Thursday said. Enel is the only company to have submitted a preliminary non-binding bid for taking over Electrica Banat and Electrica Dobrogea and has recently begun talks with the Economy Ministry, given that the other short-listed suitors, EVN AG (Austria) and Public Power Corporation (Greece) backed out.
“Enel requested to also get Electrica Muntenia Sud (or another Electrica branch for that matter), for cost cutting reasons, but we did not agree,” Dan Ioan Popescu explained. He announced the investments Enel promised to make were worth 1.2bn euros. ZF