Enel, sale of Green Power Hellas closed | EUROtoday

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Enel’s reorganization is progressing. The group, by its 100% subsidiary Enel Green Power, has finalized the sale of fifty% of Enel Green Power Hellas, 100% subsidiary of EGP for renewables in Greece, to Macquarie Asset Management, performing by Macquarie Green Investment Group Renewable Energy Fund 2. The transaction was concluded following the achievement of all of the circumstances precedent customary for such a transaction, together with the approval of the competent competitors authorities, as supplied for within the buy and sale settlement signed on 26 July 2023 In line with the settlement, EGP acquired a complete consideration of roughly 350 million euros, equal to an enterprise worth, on a 100% foundation, of roughly 980 million euros.

Impact on EBITDA of 400 million

The operation as a complete generated a optimistic impression on the Enel Group’s abnormal and reported Ebitda for 2023 of roughly 400 million euros (together with the remeasurement of the remaining fairness funding at honest worth), along with an anticipated optimistic impact on debt consolidated web earnings of the Group anticipated to be round 350 million euros. This quantity doesn’t embrace roughly 400 million euros of web debt deconsolidated in 2022, as Enel Green Power Hellas had already been categorised as “held for sale”.