The state wants to sell two stakes of 13.57% each in Enel Distributie Muntenia and Enel Energie Muntenia, in a bid to raise EUR521.5 million, up from EUR448.2 million initially envisaged. The shares are in the hands of state-run energy company Electrica SA.
Enel has preference rights over the state’s stakes in the two local companies, based on a privatization contract signed in 2007.
The authorities hope to sell 3,683 million shares in Enel Distributie Muntenia and around 502,300 shares in Enel Energie Muntenia.
The two companies provide electricity to around 1.1 million customers in capital city Bucharest and in Giurgiu and Ilfov counties.
Italy’s Enel runs four other companies on the local energy market.