Enel completed on Monday (28th April) its purchase of 50% of Romanian electricity distributor Electrica Muntenia Sud (EMS), in line with an agreement with the Romanian government signed last June.
Enel paid EUR 395 million to acquire half of EMS’s share capital from state-owned company Electrica S.A., but may later boost its shareholding if one of EMS’s existing shareholders agrees to sell.
The European Commission (EC) approved the acquisition last year (see EDEM 11.249).
By the end of 2007, EMS’s total distribution network was put at about 40.100 km. Serving about 1,1 million customers, the company earned EUR 521 million in 2007 and distributed 5.54 TWh of electricity.
(THE HEREN REPORTS - EDEM 12082 / 28 April 2008)