Italian group Enel holds off sale of Romanian assets

Italian group Enel has decided to freeze the sale of its energy distribution and supply companies in Romania. The company wanted to sell its assets in Romania as part of a larger program to raise EUR 4 billion by the end of 2014. However, it reached its target by completing other programs so it has temporarily suspended its plans related to Romania, according to Enel representatives, cited by local Economica.net. The company’s Board of Directors will decide upon future plans within the group’s new strategy and will give more details in March. The Italian company wanted to sell some of its European assets last year, because of its high debt, but managed to raise EUR 3.13 billion by selling a 21.92% stake in the Spanish company Endesa. editor@romania-insider.com