Enel

M&A Activity • Feb 29, 2016

Informazione Regolamentata n. 0116-18-2016		Data/Ora Ricezione 29 Febbraio 2016 11:27:24	MTA
Societa'	:	ENEL
Identificativo Informazione Regolamentata	:	70019
Nome utilizzatore	:	ENELN02 - Bonomo
Tipologia	:	IROS 01
Data/Ora Ricezione	:	29 Febbraio 2016 11:27:24
Data/Ora Inizio Diffusione presunta	:	29 Febbraio 2016 11:42:25
Oggetto	:	Enel Group completes sale of 49% of HDE for 335.4 million euros
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ENEL GROUP COMPLETES SALE OF 49% OF HDE FOR 335.4 MILLION EUROS

With this transaction, the total value of completed disposals now stands at 1.9 billion euros as part of Enel's 6 billion euro active portfolio management programme which is aimed at financing growth

Rome, February 29th, 2016 – Today saw the completion of the sale of Enel Produzione S.p.A. ("Enel Produzione")'s entire 49% stake in Hydro Dolomiti Enel S.r.l. ("HDE") to Fedaia Holdings S.à r.l. ("Fedaia"), a Luxembourg-based subsidiary of Macquarie European Infrastructure Fund 4 ("MEIF4"). The consideration of the transaction was finalised at 335.4 million euros, as per the agreement signed on November 13th, 2015 between Enel's subsidiary Enel Produzione and Fedaia.

Enel Produzione's stake in HDE was sold to the Italian company Fedaia Investments S.r.l., which was designated as the purchaser by Fedaia and is also controlled by MEIF4. The completion of the transaction follows clearance from the EU antitrust authority which was the final outstanding condition precedent provided for in the sale agreement. The transaction enables the Enel Group to reduce its consolidated net financial debt by approximately the total consideration noted above.

With the closing of the sale of HDE, the total value of disposals already completed rises to 1.9 billion euros, out of a total of 3.7 billion euros of sale agreements reached to date as part of Enel's programme to actively manage its asset portfolio. Proceeds from the programme, which was expanded to 6 billion euros as announced during the presentation of Enel's strategic plan in November 2015, are intended to finance the Group's further growth.

HDE operates hydropower plants, mainly located in the Province of Trento, with a total installed capacity of about 1,280 MW. More specifically, the assets comprise 26 large hydro plants, for a total of 1,277.3 MW, and two small hydro facilities, totalling 2.4 MW.

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