PPC ink exclusivity agreement with Enel Group for possible acquisition of the latter's stake in Romania
PPC’s board of directors will determine whether PPC will submit a binding offer to Enel.
Enel S.p.A. announced that has entered into an Exclusivity Agreement with Greek company Public Power Corporation S.A. (“PPC”) in relation to the potential disposal of all the equity stakes held by Enel Group in Romania (“Target Assets”).
During the exclusivity period, until the end of January 2023, the parties will negotiate the transaction documentation and PPC will carry out appropriate due diligence on the Target Assets.
Upon completion of such due diligence, PPC’s board of directors will determine whether PPC will submit a binding offer to Enel.
The parties will inform the market should they enter into a binding agreement on the transaction.