Enel to Sell Up to 50% of Open Fiber to Macquarie Infrastructure

   By Cecilia Butini 
 

Enel SpA said Thursday that it has resolved to sell a minimum 40% stake and up to 50% of Open Fiber SpA to Macquarie Infrastructure & Real Assets, part of Macquarie Group Ltd.

The sale of Enel's 50% stake would mean a sale of its entire stake in Open Fiber, it said.

The Rome-based energy company said the consideration for the sale of 50% of Open Fiber equals 2.65 billion euros ($3.23 billion) and includes the transfer to Macquarie Infrastructure of the totality of Enel's portion of a shareholders' loan granted to Open Fiber. That would have an estimated consideration of about EUR270 million as of June 30, 2021.

Should the sale be for 40% of Open Fiber, the consideration for the sale would be EUR2.12 billion, the company said. Enel's portion of the shareholders' loan granted to Open Fiber and transferred to Macquarie Infrastructure would be equal to 80% and would have an estimated value of around EUR220 million as of June 30, 2021.

The transaction is expected to be finalized by June 30, 2021.

Write to Cecilia Butini at [e-mail]

(END) Dow Jones Newswires

December 17, 2020 12:53 ET (17:53 GMT)

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