By Mauro Orru
Enel SpA has signed contracts to sell its entire stake in fiber-optics company Open Fiber SpA for 2.65 billion euros ($3.14 billion).
The Rome-based energy company said Thursday that it is selling a 40% stake to Macquarie Asset Management and the remaining 10% to CDP Equity SpA, the holding company of Italian state lender Cassa Depositi e Prestiti SpA.
Open Fiber was established in December 2015 to install, supply and operate optical fiber electronic communication networks across Italy. It was set up as a 50-50 joint venture between Enel and CDP Equity.
The transaction is expected to close in the last quarter of the year.
Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94
(END) Dow Jones Newswires
08-05-21 0209ET