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Report: Enel launches process to sell Romanian assets for €1B

Enel SpA has commended the sale process of its renewable power generation, supply and distribution assets in Romania, Reuters reported Sept. 5, citing sources.

The potential sale could fetch the Italian utility about €1 billion, or $1.11 billion. French bank BNP Paribas SA has been hired to lead the sale process. "BNP is now gauging appetite and whether Enel sells all or only part of its business depends on the buyers," the news outlet quoted an anonymous source as saying.

The news comes as utilities, including CEZ a. s., E.ON SE and Engie SA, are looking to venture into the Romanian market to compete with state-backed Hidroelectrica, according to Reuters. Enel serves over 3 million customers in Romania.