Madrid (Europa Press) .- Endesa has submitted a non-binding offer to purchase the assets of E.ON in Spain as part of the process of disinvestment country initiated by the German company, to Europa Press on market sources.
Endesa, the Spanish utility controlled by Italy’s Enel, has decided to make this offer after its parent Enel announced late last month that a reorganization of the business involves the segregation of Latin American assets and finding new opportunities in the Iberian market.
In case of a successful bid, Enel and Endesa recover assets that were owned in the past. In fact, Spain E.ON brings both old plants Viesgo subsidiary at the time of Enel, Endesa as assets purchased after the takeover by the latter successfully launched by Enel and Acciona.
In any case, the process for making non-binding offers concludes Monday and may attend funds like KKR, Riverstone, Brookfield, Blackstone or infrastructure JPMorgan, and even Villar Mir.
Daily ‘Five Days’, which advances the Endesa deal also indicates that other electrical and Gas Natural Fenosa, Acciona and EDP have submitted their proposals for purchase assets E.ON Spain. Iberdrola will not participate in the operation, the newspaper said.
The new CEO of Enel, Francisco Starace, as indicated in his first conference call with analysts to present results that the company will “look carefully” the ” opportunities “arising in Spain and came to the conclusion that” some of the assets offered for sale “by E.ON in the country” are interesting. “
For his part, Minister of Industry, Energy and Tourism Jose Manuel Soria said recently in an interview with Europa Press that the sale of E.ON in Spain “shows that the electricity sector in Spain is attractive as an investment focus and is a sector that has strength, safety regulatory and stability “after regulatory reform approved by the Government.
The minister did not hide his preference for the buyer of the assets is Spanish.
” The important thing is that Spanish companies to continue operating as Spanish, and the business you have here E.ON operates as a Spanish company for all purposes, but is obviously not a company whose parent is Spanish (…). If you ask me, if given the choice, I’d rather be a Spanish company “the buyer.
Citi, acting as financial advisor in the sale of assets, has been in charge of distributing notebooks for sale after probing interest in the market.
Offers may be around ten times the gross operating profit (EBITDA) of the company, which in 2013 was 300 million, which would raise the sum the vicinity of 3,000 million euros.
E.ON Spain, headed by Miguel Antoñanzas, has more than 1,100 employees and a turnover of more than 650,000 customers. has power plants in Andalusia, Aragón , Asturias, Cantabria, Castilla-La Mancha, Castilla y León and Catalonia with a total capacity of 4,500 megawatts (MW).
As for the distribution business, has 33,000 kilometers of network to distribute electricity in Cantabria, Asturias, North of Castile and León and Galicia.
sources consulted by Europa Press Framed industry giant German output Spain in its attempt to raise cash, after failing to get the critical mass that wanted in the Spanish market, while acknowledging the possibility that the current regulation may have also influence the decision.
however, indicated that a clear and stable regulation may also be interesting for foreign funds that seek to ensure returns, even modest.
No comments:
Post a Comment