Enel Production, the wholesale
electricity division of Italian electric utility Enel, signed an
agreement on Friday to sell its 400 million euros of shares in
SE Hydropower and SF Energy to Sel, an electric utility in the
northern Italian province of Bolzano.
The sale will cede Enel Production's 40% share in SE
Hydropower, equivalent to 345 million euros, which will result
in Sel having 100% of SE Hydropower's stock shares.
The agreement is pending approval by the Italian Antitrust
Authority (AGCM) and the release of funds to Sel by banks
financing the transaction.
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