|
|
Online Newsletter
Sign up for our newsletter to receive the latest news and information from publics.bg
Sign up for our newsletter to receive the latest news and information from publics.bg
News
From Bulgaria
29.06.2011 9:55Enel Finalized the Sale of Its Stake in Enel Maritsa East 3 TPP
The sale of Enel Maritza East 3 TPP is part of the disposal plan announced by Enel to the markets and will cut down Enel Group's total financial debt by about EUR 460 million
© Enel Maritsa East 3
Enel S.p.A. announced that Dutch subsidiary Enel Investment Holding BV (EIH), executing the agreement reached in March 2011 with ContourGlobal LP, closed the transaction for the sale to ContourGlobal of the entire share capital of the Netherlands–registered companies Maritza East III Power Holding BV and Enel Maritza O&M Holding Netherland BV. These companies own respectively 73% of the share capital of the Bulgarian company Maritza East 3 AD, owner of a lignite-fuelled power plant (“Enel Maritza East 3”), and 73% of the share capital of the Bulgarian company Enel Operations Bulgaria AD, which is responsible for the operation and maintenance of the plant.
Located in the south-east of Bulgaria, Enel Maritza East 3 TPP accounts for approximately 10% of the country's total installed capacity. In 2010 it posted revenues of approximately EUR 231 million and EBIT of approximately EUR 69 million.
Enel disposed the two companies to ContourGlobal for a consideration of EUR 230 million. The enterprise value at closing for 100% of the share capital of the companies involved in the disposal is EUR 545 million, corresponding to EUR 0.60 million per MW.
The transaction has been closed once obtained the necessary authorizations from the relevant authorities. The sale of Enel Maritza East 3 TPP is part of the disposal plan announced by Enel to the markets and will cut down Enel Group's total financial debt by about EUR 460 million.
All news from BulgariaNo published comments
Login to comment
Interview 
Full text
Events 
