Enel will disengage from nuclear project in Slovakia, where it holds 33% of Slovenske Elektrarne. His partner eph decided to buy the shareholding held by Enel, based on the early call option introduced in 2020, as part of the amendments to the 2015 contract.
Secondo Milano Finanza, Enel would have tried to change the clauses to avoid having to sell the share and leave an asset considered strategic for the production of nuclear energy in the current market context, but the agreement signed under the previous management proved to be shielded.
eph then he will buy the 50% of the share capital currently held by Enel Production in Slovakian Power Holding, the holdco to which 66% of the share capital of Slovenské elektrárne, jointly held, was attributed, after Eph itself, in 2016, had purchased from Enel an initial 33% share of the Slovak utility, a note says. According to the agreement, the overall consideration for the sale is equal to 150 million, or the amount already paid by Eph to Enel Produzione upon completion of the purchase of the first share.
The buyer, however, must ensure that they are refunded, by the closing, the funding granted by Enel to Slovenské Elektrárne for a total amount of 970 million, in addition to the accrued interest not yet paid at the date of actual repayment, which as of November 30, 2024, amount to 158 million euros, Enel says. The transaction will generate a substantially positive effect neutral on financial debt consolidated net and a negative impact on theNet income reported amounting to approximately 585 million euros (of which approximately 341 million euros for the release of equity reserves), while it will have no impact on the economic results ordinary members of the group. The closing of the operation is expected in the first half of 2025.
Il Enel title at Piazza Affari, in an overall heavy market, it lost 1,94% to 6,78 euros.
Hybrid bonds up to 2 billion launched
Furthermore, the group's board of directors has authorised the issue, by 31 December 2025, of one or more non-convertible bonds, in the form of subordinated securities hybrids, even of a perpetual nature, for a maximum overall amount equal to 2 billion euros, to be placed exclusively with institutional investors, both European and non-European, including through private placements.
The new loans will refinance Enel's outstanding hybrid bonds and further strengthen the group's capital and financial structure. Meanwhile, the stock, after opening on Wednesday, December 19, lost 1,2% to 6,83 euros.
He will be the CEO, Flavio Cattaneo, to decide on issues and the respective characteristics of each, "taking into account the evolution of market conditions, the timing, the amount, the currency, the interest rate and the additional terms and conditions, as well as the placement methods and any listing on regulated markets or multilateral trading systems".
