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ENERGO: PPC of Greece begins exclusive negotiations on Enel’s Romanian assets

Public Power Corp (PPC), the largest electricity company in Greece, signed an exclusivity agreement with the Italian company Enel on a possible acquisition of the latter’s assets in Romania, said a press release from the Greek company on December 14.

The Greek electricity company is looking into making acquisitions in Romania and Bulgaria as part of its overseas expansion efforts. Last month, Italian energy group Enel announced that it aims to sell its Romanian assets and exit the country in order to focus on Italy and Spain.

Apart from PPC, the contenders for Enel’s Romanian assets were the energy funds Brookfield Asset Management (Canada) and Amber Infrastructure (United Kingdom), according to Bankingnews.gr.

During the exclusive talks that will last until the end of January 2023, PPC will conduct a financial audit of the assets, it said in a statement. A final offer will be based on the said audit.