By Stephen Jewkes
MILAN (Reuters) – Italian utility Enel <ENEI.MI> expects to raise up to 1.5 billion euros (1.34 billion pounds)from asset sales in the second half of the year to help cut debt after a series of acquisitions.
Speaking to analysts on first half results, Enel CFO Alberto De Paoli said disposals would include renewable energy assets in Mexico and Brazil as well as coal and biomass operations.
“Overall we could raise between 1.2 and 1.5 billion euros,” he said.
In June, Europe’s biggest utility agreed to spend almost $1.5 billion to buy a majority stake in Brazilian power company Eletropaulo <ELPL3.SA> and also said it could spend more than $2.3 billion to buy a Latin American fiber company.
Enel, which controls Spanish utilit…
Read the full article at: http://www.euronews.com/2018/07/31/enel-expects-to-sell-assets-worth-up-to-1-point-5-billion-euros-to-help-cut-debt