Public Power Corporation S.A. completed the acquisition of Enel assets in Romania from Enel SpA for approximately ?1.2 billion.
The transaction is subject to due diligence and approval by antitrust authorities. As of February 4, 2023, the exclusivity period for negotiations has been extended until February 28, 2023. As of June 26, 2023 European Commission approved the transaction. The transaction is expected to close in third quarter of 2023.
Citigroup Global Markets Europe AG, Goldman Sachs Bank Europe SE, HSBC Continental Europe acted as financial advisors, S.A, Lisa O?Neill, Apostolos Gkoutzinis, Andrew Reilly, Trevor Truman, and Alan Rafferty of Milbank LLP acted as a legal advisor, Cornelia Bumbacea, Andreea Bistriceanu, Andreea Oprescu, Laura Paraschiv, Andreea Puiu, Daniel Anghel, Ruxandra Târlescu, Adina Vizoli, oana Bara, Ludmila Petrescu, Claudiu Simionescu, and Anca Lungeanu of PwC Romania, PwC Greece and Anda Rojanschi, Cristina Paduraru and Ovidiu Bold of D&B David si Baias experts provided due diligence, tax structuring advice and support on the complex financial and tax aspects of the transaction documents, as well as legal advice to Public Power Corporation S.A. (ATSE:PPC). Clifford Chance LLP acted as legal advisor to Enel SpA in the transcation, PwC Romania, PricewaterhouseCoopers Business Solutions S.A. and D&B David si Baias, Accounting Arm served as accounting advisor to Public Power Corporation S.A.
Public Power Corporation S.A. (ATSE:PPC) completed the acquisition of Enel assets in Romania from Enel SpA (BIT:ENEL) for approximately ?1.2 billion on October 25, 2023. Following the fulfillment of all the conditions precedent customary for these kinds of transactions set forth in the related sale agreement closed the transaction. AXIA Ventures Group and Euroxx Securities SA acted as financial advisors to PPC.