Enel is reportedly preparing to sell the subsidiary Brazilian Celg, an energy distribution company in Goiás, in southeastern Brazil. Reuters reports it, evaluating the possible agreement at about 2 billion dollars and quoting three sources close to the dossier. Among the groups interested in these assets there would be State Grid of China, Iberdrola and EDP Energias do Brasil. At the end of the day, the share yields 0,38% to 6,08 euro, after a positive start.
Paid 640 million in 2017, paid by Enel to the public shareholder Eletrobras and the State of Goia's, the subsidiary of the Italian multinational has tripled its value in the last five years, bringing over 3 million customers served by the distribution network, plus a concession until 2045.
Among the companies interested in the acquisition of Celg-D are the Brazilian competitor CPFL Energia Sa - controlled by the State Grid Corporation of China - Neoenergia Sa - controlled by the Spanish Iberdrola - and EDP Energias do Brasil Sa of which the Portuguese EDP is the largest shareholder.
Other contenders for Celg-D, which is worth an estimated 10 billion reais (2,14 billion) including debt, include Brazilian competitors Energisa and Equatorial Energia Sa. Celg-D's assets are valued at approximately OMR 5 billion.
Enel and Neunergia declined to comment. As well as CPFL, EDP Energias do Brasil, Equatorial and Energisa.
