Annual Report 2010 - Enel.com

Repayment of Credit Facility
With effect from January 31, 2011, an additional volun-
tary early repayment was made on the Credit Facility
Agreement held by Enel Finance International and Enel
SpA, of which:
> €1,484 million related to the tranche maturing in 2012;
> €1,042 million related to the tranche maturing in 2014;
> €474 million related to the tranche maturing in 2016.
Sale of CAM and Synapsis
On February 24, 2011, the disposal of the Peruvian company
Grana y Montero of the Multi-American Company
(CAM) was completed at a price of $20 million. On March
1, 2011, the disposal of Synapsis IT Solutions and Services
(Synapsis) to Riverwood Capital was completed at a price
of $52 million.
Both companies are classified in these financial statements
as assets and liabilities held for sale.
Bond issue for institutional
investors
On March 2, 2011, the Board of Directors of Enel SpA, as
part of the strategy to extend the average maturity of the
Group’s consolidated debt and to optimize the profile of
its medium and long-term maturities, approved the issue
by December 31, 2011, of one or more bonds, to be placed
with institutional investors, up to a maximum amount of
€1 billion.
The bond issues may be carried out either directly by Enel
SpA or by its Dutch subsidiary Enel Finance International
NV (guaranteed by the Parent Company) in relation to
opportunities offered by the latter for placing bonds on
regulated foreign markets and/or in private placements
with foreign institutional investors.
The Board of Directors also empowered the CEO to allocate
the bond issues between the two above-mentioned
companies, as well as setting the amounts, currencies,
timing and characteristics of the individual issues, and the
power to apply for listing them on one or more regulated
markets.
Acquisition of additional
stakes in CESI SpA
On March 11, 2011, Enel SpA acquired E.ON Produzione
SpA’s entire holding in CESI SpA, equal to 3.9% (134,033
shares). On March 25, 2011, additional holdings in CESI
were acquired from Edison, Edipower, Iren Energia and
A2A, totaling 9.6% of share capital (328,432 shares). Following
the transactions, Enel SpA holds 39.4% of CESI.
Agreement for disposal of
Maritza
On March 14, 2011, Enel reached an agreement with ContourGlobal
for the sale of the entire share capital of the
Netherlands-registered companies Maritza East III Power
Holding BV and Maritza O&M Holding Netherland BV,
which own, respectively, 73% of the share capital of the
Bulgarian company Maritza East 3 AD, which in turn is the
owner of a lignite-fired power station with an installed capacity
of 908 MW (“Maritza”), and 73% of the share capital
of the Bulgarian company Enel Operations Bulgaria AD,
which is responsible for operating and maintaining the
Maritza plant.
ContourGlobal will pay Enel a total of €230 million for the
companies. The transaction is expected to close by July
2011 and is subject to obtaining the necessary authorisations
from the relevant authorities.
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