By David Sachs
MILAN (Dow Jones)–The Italian energy supplier Enel is selling part of its distribution business. The subsidiary E-distribuzione will sell 90 percent of the shares in the newly created NewCo unit to A2A for 1.2 billion euros, Enel said.
E-distribution will initially keep the remaining 10 percent. However, A2A has the option of taking over this at a later date. The transaction is expected to be completed by the end of the year.
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DJG/DJN/mgo/cln
(END) Dow Jones Newswires
March 11, 2024 02:46 ET (06:46 GMT)
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