Enel denies Celg-D sale rumors

Enel denies Celg-D sale rumors

M&A Energy Electricity Brazil Italy

Italian power company Enel has denied press reports that is in discussions to sell the distribution business Celg-D for as much as BRL10 billion ($2.01 billion), according to a securities filing. "[A]fter consulting with its controlling shareholder, [the company] confirms that there is no agreement, offer or binding proposal linked to a sale of the company's shares or assets," Celg-D said in a securities filing on Tuesday. Reuters had reported on Monday that Enel had hired Itaú BBA to find a buy

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