European Commission OKs Enel Romania’s acquisition by Greek PPC
The European Commission (EC) has cleared the acquisition of Enel Romania by the Public Power Corporation (PPC) of Greece, a deal that is worth approximately EUR 1.26 billion.
The European governing body said the transaction was examined under the simplified merger review procedure. It also stated that the proposed acquisition "would raise no competition concerns, given the absence of overlaps between the companies' activities."
Enel Romania is active in the generation, distribution and supply of electricity, as well as in the supply of natural gas in Romania and the provision of related services.
PPC is active in the generation, supply and distribution of electricity, mainly in Greece.
The Greek company sealed the binding agreement to take over the assets held by Italy's utility group Enel in Romania in March this year. The sale is expected to be closed by the third quarter of 2023.