Tuesday, May 21, 2024

    PPC enters exclusive negotiations with Enel on acquisition of all Romanian operations of Enel

    PPC S.A. (“PPC”) announces that it has entered into an Exclusivity Agreement with Enel S.p.A. (“Enel”) in relation to the potential acquisition of the entire equity stakes held by Enel Group in Romania (“Target Assets”).

    During the exclusivity period, until the end of January 2023, the parties will negotiate the transaction documentation and PPC will carry out appropriate due diligence on the Target Assets and, upon completion of such due diligence, PPC’s board of directors will determine whether PPC will submit a binding offer to Enel. The parties will inform the market should they enter into a binding agreement on the transaction.