By Reuters
Published on
MILAN - Enel agreed to sell its 56.43% stake in Enel Russia for around 137 million euros ($144.15 million) to local investors, Italy's top utility said on Thursday.
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The sale will have a negative impact on reported group net income of about 1.3 billion euros, mainly driven by the release of currency reserves, Enel said in a statement.
Such accounting effect will not have any impact on ordinary economic results, it added.
Enel said that the deal, signed with Russia's second-largest oil producer Lukoil and private fund Gazprombank-Frezia, is also expected to generate a positive effect on the group's consolidated net debt of about 550 million euros.
($1 = 0.9504 euros)
