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Italy’s Enel Pays EUR820M For Romanian Pwr Supplier Electrica Muntenia Sud

Italian utility Enel SpA (EN) paid Thursday around EUR820 million for a majority stake in Romania’s regional power distributor Electrica Muntenia Sud, in a much-delayed privatization, Matteo Codazzi, Enel Romania’s president, said in a statement.
Italy’s Enel Pays EUR820M For Romanian Pwr Supplier Electrica Muntenia Sud
17 apr. 2008, 16:18, English

Coddazi said he expects the takeover to be completed in a few days.

Enel agreed in 2006 to pay EUR820 million for a 67.5% stake in Electrica Muntenia Sud, but its takeover has been delayed while Romanian justice authorities investigated previous privatization deals.

The Italian company already owns two Romanian regional power distributors, Enel Electrica Dobrogea and Enel Electrica Banat, which it acquired from former monopoly supplier Electrica SA.