Enel Group received a cash consideration of 1.8 billion USD
Rome, November 13th, 2013 Enel SpA (Enel), through its wholly-owned subsidiary Enel Investment Holding BV, finalized the sale of its 40% stake in Artic Russia BV, which in turn owns 49% of the share capital of SeverEnergia (the aggregated interest of Enel in the latter being equal to 19.6%), to Itera, a wholly-owned subsidiary of the Russian oil & gas company Rosneft.
The parties announced the transaction in Sochi on September 24th where the agreement was signed by Fulvio Conti, CEO and General Manager of Enel, and Igor Sechin, President and Chairman of the Management Board of Rosneft.
At closing, Enel Investment Holding received a cash consideration of 1.8 billion USD from Itera.
The transaction, which has been completed upon satisfaction of the conditions precedent, is part of the disposal plan announced by Enel to the market on March 13th and enables the Enel Group to reduce its consolidated net financial debt for an amount of 1.8 billion USD.
Enel in Russia
Enel entered the Russian market in 2004 as the first private operator in the power sector. In the upstream segment, Enel owned a 19.6% stake in the SeverEnergia consortium with Novatek, GazpromNeft and Eni.
Enel also owns a 56.43% stake in Enel OGK-5, a generation company with four power plants with an installed capacity of 9,007 MW, located in the fastest growing areas of the country, including two newly built combined cycle plants for a total capacity of 820 MW.
In the sales segment, Enel owns 49.5% of RusEnergoSbyt, an important electricity trader in Russia, with sales of 52 TWh posted in 2012.
SeverEnergia is a gas production joint venture with assets in Yamal-Nenets Autonomous Region of Russia. 51% of its share capital is held by Yamal Development, a joint venture of Novatek and Gazprom Neft established on a parity basis. The remaining 49% stake is held by Arctic Russia B.V., a joint venture between Italian Enel (being replaced by Russian Rosneft after the completion of the transaction) and Eni, where the parties hold 40% and 60% respectively. SeverEnergia owns four license areas. Proven and probable reserves stand at approximately 7.3 billion boe.
Enel press releases have all now smartphone and tablet versions.
Download Enel Mobile App from Apple Store, Google Play and BlackBerry App World
For the dissemination to the public and the storage of regulated information made available to the public, Enel S.p.A. has decided to use respectively the platforms “eMarket SDIR” and “eMarket Storage”, both available at the address www.emarketstorage.com and managed by Spafid Connect S.p.A. with registered office in Milan, at Foro Buonaparte, 10. The aforementioned services are authorized by Consob (resolution No.19878 of February 15th, 2017, related to the mechanism for the dissemination to the public of regulated information “eMarket SDIR” and resolution No. 19879 of February 15th, 2017, related to the mechanism for the central storage of regulated information “eMarket Storage”).
From May 19th 2014 to June 30th 2015, Enel S.p.A. used the authorized mechanism for the storage of regulated information denominated “1Info”, available at the address www.1info.it, managed by Computershare S.p.A. with registered office in Milan and authorized by Consob with resolution No. 18852 of April 9th, 2014.