ROME (dpa-AFX) - Enel S.p.A. said its subsidiary e-distribuzione signed an agreement with A2A S.p.A. for the sale to the latter of 90% of the capital of a newly incorporated vehicle or NewCo, to which electricity distribution activities in some municipalities of the provinces of Milan and Brescia will be contributed. The deal provides for A2A to pay a consideration of approximately 1.2 billion euros. Upon completion, e-distribuzione will retain a 10% stake of NewCo's capital.
The transaction is anticipated to generate a positive effect on the Enel Group's consolidated net debt in 2024 of about 1.2 billion euros and a positive impact on reported net income for 2024 of about 1 billion euros.
Also, e-distribuzione signed with A2A a non-binding MoU aimed at exploring the possible acquisition by e-distribuzione of certain electricity distribution activities, outside the provinces of Milan and Brescia, currently held by A2A.
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