Enel's Endesa Said to Receive Three Offers to Purchase Spanish Gas Network
Endesa SA, the Spanish utility controlled by Enel SpA, received three bids from infrastructure funds for its natural-gas distribution and transmission assets in Spain, according to two people with knowledge of the matter.
Funds associated with Macquarie Bank Ltd., Goldman Sachs Group Inc. and Axa Private Equity made offers for the assets, which may be valued at as much as 750 million euros ($963 million), said one of the people, who asked not to be identified because the sale process is private.
Karen Smith, a spokeswoman for Macquarie in London declined to comment. Officials at Enel in Rome, Goldman Sachs and Axa Private Equity in London, who asked not to be identified, also declined to comment. No one was immediately available to comment at Endesa’s offices in Madrid.
Italian utility Enel owns 92 percent of Endesa after gaining control of the Spanish company in 2007. As part of that deal, Endesa transferred some renewable-energy units to builder Acciona SA and sold assets to Germany’s E.ON AG. The company is selling more units to increase savings after the takeover.
Endesa, Spain’s second-largest utility, said in July it expected binding offers this month for 80 percent of its natural-gas distribution and transmission assets in Spain.
Reuters reported the bidders earlier today.