ENEL PRODUZIONE COMPLETES DISPOSAL OF STAKE IN SF ENERGY FOR 55 MILLION EUROS

Rome, January 29th, 2015 – Today, the agreement signed on November 7th, 2014 by Enel Produzione S.p.A. (“Enel Produzione”), a subsidiary of Enel, on the sale of its stake in SF Energy S.r.l. was finalized for a consideration of 55 million euros. Of the entire stake, 50% was sold to SEL S.r.l. (the counterparty in the agreement), while the remaining 50% was sold to Dolomiti Energia S.p.A. following exercise of its pre-emption rights.

The disposal is part of the agreements between Enel Produzione and SEL – Società Elettrica Altoatesina S.p.A. signed on November 7th, 2014 and already disclosed to the market by Enel.  The agreements also provide for the sale of the 40% stake held by Enel Produzione in SE Hydropower S.r.l. for a consideration of 345 million euros. The latter transaction will be finalized only upon meeting the final condition provided for under the terms of the agreement, namely for SEL to obtain a bank commitment to provide the funding for the purchase of the equity stake. The condition is expected to be met by the end of the first quarter of 2015.

 

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