The Romanian government has approved the privatization of regional power distributor Electrica Muntenia Sud to Italian utility Enel SpA (EN), news agency Mediafax reported Prime Minister Calin Popescu Tariceanu as saying Wednesday.
The Romanian authorities agreed to sell the Romanian company to Enel in 2006 but finalization of the process has been postponed several times due to various technicalities.
Laszlo Gyerko, the deputy president of Romanian privatization authority AVAS, said earlier this month that completion of the transaction would take place by April 15, after approval by the government in March.
Enel agreed in 2006 to pay EUR820 million for a 67.5% stake in Electrica Muntenia Sud.
The Italian company already owns two Romanian regional power distributors, Enel Electrica Dobrogea and Enel Electrica Banat, having acquired them from former monopoly supplier Electrica SA.