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Enel Plans to Sell Spanish, Bulgarian Assets in Coming Months

Sept. 4 (Bloomberg) -- Enel SpA, Italy’s biggest utility, plans to sell its gas distribution assets in Spain by September and its stake in a Bulgarian power plant soon after, Chief Executive Officer Fulvio Conti said.

The company has “several bidders” interested in its Spanish assets, Conti said in an interview in Cernobbio, Italy today. He also said Enel will sell its stake in Bulgaria’s Maritsa East Three coal-fired power plant “in the fall.”

Enel is selling assets to help reduce debt by 45 billion euros ($58 billion) in 2010. The Rome-based company said in May it planned to sell 7 billion euros of assets including a stake in its Green Power unit by the end of October.

Conti said Aug. 23 he plans to make “at least” 3 billion euros from the disposal of Green Power. He declined to give a value for the sales in Spain and Bulgaria today.

To contact the reporter on this story: Alessandra Migliaccio in Rome at amigliaccio@bloomberg.net

To contact the editor responsible for this story: Frank Connelly at fconnelly@bloomberg.net

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