Enel SpA (ENEL.MI), Italy's biggest utility by market value, Friday said it signed a letter of intent to sell to OAO Gazprom (GAZP.RS) a Belgium power plant as part of its 6 billion euro ($7.92 billion) asset disposal program to slash debt.
Enel SpA (ENEL.MI),
Italy
's
biggest utility by market value, Friday said it signed a letter of intent to
sell to OAO Gazprom (GAZP.RS) a
Belgium
power
plant as part of its 6 billion euro ($7.92 billion) asset disposal program to
slash debt.
In a statement, Enel said the letter of intent with the Russian energy company
agrees to sell the 420-megawatts natural gas-fired Marcinelle plant for EUR227
million in cash and debt free basis. It added a final agreement is due by the
end of September or else the agreement ceases to exist.
Thursday, Enel Chief Executive Fulvio Conti told The Wall Street Journal the
deal would be worth at least EUR200 million.
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