The game ends on Gridspertise. Enel, through its subsidiary Enel Grids, has signed an agreement for the sale of 50% of the subsidiary Gridspertise - the company dedicated to the digital transformation of electricity grids - to the international private equity fund Capital Partners Fund (CVC), following the occurrence of all the conditions set out in the agreement signed on 18 October 2022.
In detail, CVC paid a total consideration of approx 300 million euros, equal to an enterprise value of 625 million euros (referring to 100%). The agreement also envisages possible deferred payments which could bring the enterprise value (referring to 100%) up to one billion euros.
“The operation as a whole has generated a positive impact on theEbitda of the Enel Group for approximately 500 million euros, in addition to an expected positive effect on thefinancial debt consolidated net income of the Group of approximately 300 million euros”, writes the Group in a note.
Following the transaction, Enel and CVC manage the company under joint control.
The operation, in line with the current Strategic Plan of the Enel Group, according to the Stewardship model, which involves investments made with third parties, with the aim of adding new infrastructures and services aimed at accelerating the electrification process of customers' energy demand.
