In an attempt to cut its euro 56 billion debt pile, utility company Enel is mulling over the sale of its gas distribution network. The company's gas pipelines are expected to fetch approximately euro 2 billion.
Fulvio Conti, CEO of Enel, confirmed that gas network sale was one option that the company is evaluating. He also said that Enel is in discussions with Terna about the sale of part of Enel's electricity network.
The Financial Times quoted analysts as saying that in concert, both the deals could raise up to euro 4 billion.
According to Bloomberg, Enel's 18,600-mile gas pipeline network has a book value of euro 1.72 billion and reaches 1,205 towns and cities across Italy.
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Enel To Get Rid Of Gas Distribution Network
In an attempt to cut its euro 56 billion debt pile, utility company Enel is mulling over the sale of its gas distribution network. The company's gas pipelines are expected to fetch approximately euro 2 billion
