Scottish Energy Co. To Pay $616M For Enel's Irish Assets

Law360, New York (June 15, 2012, 12:46 PM EDT) -- Italian utility Enel SpA will make headway in its debt-reduction plan by selling power facility developer Endesa Ireland Ltd. to Scotland's SSE PLC in a deal worth up to €488 million ($616.6 million), SSE said Friday.

The transaction, expected to close during the summer subject to regulatory approval, will hand off Endesa's ownership from Enel's Spanish subsidiary to the Scottish company, which primarily builds and operates energy projects in the U.K. and Ireland.

Enel has struggled under billions of euros of debt amid the financial crisis...
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