Enel Peru is acquired by state-owned China Southern Power Grid

Photo: CELEBRACIONES_POR_EL_40_ANIVERSARIO_DE_LAS_RELACIONES_DIPLOMATICAS_PER脷 -CHINA By: Ministerio de Relaciones Exteriores de Per煤. Source: WikiCommons.

Enel, the Italian electricity company, has reached an agreement to sell all the shares it holds in Enel Distribuci贸n Per煤, which represents 83.15% of its share capital, as well as all the shares of Enel X Per煤, accounting for 100% of its share capital, to China Southern Power Grid International. This transaction aligns with Enel’s strategic plan, which focuses on the repositioning efforts in six key countries

The deal is valued at approximately US$2.9 billion, corresponding to a total enterprise value of around US$4 billion. Consequently, the sale of these assets is expected to significantly reduce Enel’s consolidated net debt by approximately 鈧3.1 billion in 2023 and have a positive impact of roughly 鈧500 million on the group’s reported net income. However, the execution of the transaction is subject to the approval of local regulators, including Indecopi, as well as Chinese authorities such as the Outbound Direct Investments (OID).

Top Headline:

La Rep煤blica. Salazar, E. (2023, 7 de abril). Southern Power Grid adquiere Enel Per煤 por US$2.900 millones.

Find out more:

Bloomberg L铆nea. Brambilla, A. (2023, 7 de abril). Enel acuerda venta de activos en Per煤 a estatal china por US$2.900 millones.