Italian Companies Sell Assets to Strengthen Financial Structure

Italian companies continue to divest, with Eni selling its stake in EEV to Germany’s EnBW and Enel Group disposing of holdings in Slovakia and Romania.

‘As regards Slovakia, the holdings involved in the sale programme include the 66% stake in Slovenské Elektrárne a.s. (held by Enel through Enel Produzione SpA), which is that country’s leading power generator, with a market share of close to 80%,’ Enel wrote in a note, adding it is also selling companies managing a power grid of about 91,000 kilometres in Romania. 

Last November, Enel finalized the sale of its 19.6% stake in Russia’s SeverEnergia, announcing it gave up over its 40% stake in Arctic Russia to Rosneft. Similarly, Eni is selling non-core assets to strengthen its financial structure. 

‘Eni’s decision to sell its share in the company is part of its strategy of rationalizing its mid-downstream portfolio, exiting regulated gas transport assets. Eni remains actively involved in the commercialisation of natural gas in Germany through its commercial branch in Dusseldorf,’ the six-legged dog wrote on its website.