Enel Agrees to €1.1B Deal to Offload 49% Stake in Battery Unit to Sosteneo

Friday, 1 March 2024, 22:05

Enel, Italy's largest utility company, has finalized a transaction with Sosteneo to sell a significant portion of its energy storage division for €1.1 billion. The move is part of Enel's strategic efforts to alleviate its net debt burden and streamline its operations, showcasing the company's commitment to financial optimization.

https://store.livarava.com/5ba3c5b8-d819-11ee-b8b8-5254a2021b2b.jpe — Enel Agrees to €1.1B Deal to Offload 49% Stake in Battery Unit to Sosteneo

Enel to Sell 49% of Battery Unit to Sosteneo in €1.1B Deal

Enel, the largest utility in Italy, has reached an agreement to divest a substantial portion of its energy storage division to Sosteneo for €1.1 billion. This transaction forms part of Enel's overarching strategy to lower its net debt and enhance its financial position.

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