PwC Legal Romanian affiliate D&B David si Baias has advised the Greek Public Power Corporation on its acquisition of Enel Group’s electricity production, supply, and distribution assets in Romania. Milbank and Legance reportedly advised the PPC as well. Clifford Chance reportedly advised the seller.
The transaction remains contingent on regulatory approval.
Greece's Public Power Corporation provides consumers with electricity and natural gas products and solutions and is, according to its website, the largest power supplier in Greece.
The Enel Group is an Italian multinational producer and distributor of electricity and gas.
The D&B David si Baias team included Partners Anda Rojanschi and Ovidiu Bold, Managing Associates Cristina Ioana Paduraru, Adina Oprea, and Georgiana Balan, and Senior Associates Corina Celmare and Mihaela Papandreia.
Editor's Note: According to Enel's corporate press release, the deal was valued at EUR 1.26 billion, while, including debt, the deal was valued at EUR 1.9 billion.
On October 30, 2023, Milbank announced the transaction had closed successfully, with the firm having advised the Public Power Corporation.
Subsequently, Clifford Chance Badea confirmed it had advised the Enel Group on the sale of its Romanian assets to the Public Power Corporation.