Enel Inks $167.6M Deal To Sell Gas Stake To F2i, Ardian

Law360, New York (December 6, 2013, 2:03 PM EST) -- Italian utility Enel SpA on Friday said it has agreed to sell a 14.8 percent stake in its natural gas distribution unit to private equity firm Ardian and Milan-based investment fund F2i SGR SpA in a deal valued at €122.4 million ($167.6 million).

The sale price for the interest in Enel Rete Gas SpA corresponds to a total enterprise value in line with the regulated asset base, according to Enel.

The deal is subject to the preemptive rights of Enel Rete Gas shareholders, including F2i Reti...
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