Enel Green Power embarks on M&A, ready for Indian deal - report

August 12 (SeeNews) – Italy’s Enel Green Power SpA (BIT:EGPW) is eyeing new acquisitions and is ready to buy the control of Indian Bharat Light and Power with an initial investment of EUR 50 million (USD 55.2m), Il Sole 24 Ore said on Tuesday citing chief executive Francesco Venturini.

In addition, the company expects to complete by the end of the year a photovoltaic joint venture with infrastructure fund F2i in Italy, and a sale of assets in Portugal, Venturini told the daily.

Enel Green Power (EGP) is also eyeing merger and acquisition (M&A) deals in South America, particularly in Brazil. Venturini said he expects that EGP would sell certain assets in Brazil but might also act on the part of a potential buyer.

As regards the planned investments for 2015-2019, the manager said EGP would keep on focusing on the US market, while investment in Brazil would be reduced to reflect lower demand.

(EUR 1 = USD 1.103)

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