Enel to Sell Up to 50% of Open Fiber to Macquarie Infrastructure
18 December 2020 - 5:08AM
Dow Jones News
By Cecilia Butini
Enel SpA said Thursday that it has resolved to sell a minimum
40% stake and up to 50% of Open Fiber SpA to Macquarie
Infrastructure & Real Assets, part of Macquarie Group Ltd.
The sale of Enel's 50% stake would mean a sale of its entire
stake in Open Fiber, it said.
The Rome-based energy company said the consideration for the
sale of 50% of Open Fiber equals 2.65 billion euros ($3.23 billion)
and includes the transfer to Macquarie Infrastructure of the
totality of Enel's portion of a shareholders' loan granted to Open
Fiber. That would have an estimated consideration of about EUR270
million as of June 30, 2021.
Should the sale be for 40% of Open Fiber, the consideration for
the sale would be EUR2.12 billion, the company said. Enel's portion
of the shareholders' loan granted to Open Fiber and transferred to
Macquarie Infrastructure would be equal to 80% and would have an
estimated value of around EUR220 million as of June 30, 2021.
The transaction is expected to be finalized by June 30,
2021.
Write to Cecilia Butini at cecilia.butini@wsj.com
(END) Dow Jones Newswires
December 17, 2020 12:53 ET (17:53 GMT)
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