MILAN, Dec 16 (Reuters) – Canadian power-producer Boralex
Inc has offered to buy Enel Green Power’s (EGP)
French business for around $343 million, as the
Italian company sheds more of its European business to focus on
In a statement late on Monday, Boralex said it expected to
become the largest independent wind power producer in France
following the deal, with an installed capacity of 455 megawatts.
MILAN, Dec 3 (Reuters) – Plans by Italian oil major Eni
for major asset sales to help fund exploration and its
dividend payments have hit problems due to diving oil and gas
prices, sources say.
State-controlled Eni has already sold assets worth 5 billion
euros to finance the generally more profitable business of
finding oil and gas, while radically slimming down its troubled
MILAN, Dec 2 (Reuters) – Russia’s scrapping of the $40
billion South Stream gas pipeline hit shares in Italian oil
services group Saipem SpA on Tuesday, threatening to
decimate its order book in the latest of a string of setbacks.
South Stream’s demise, caused by plunging energy prices and
European opposition, may unwind up to 2.4 billion euros ($3
billion) of contracts won by Saipem this year to lay the pipe’s
offshore section, equating to 10 percent of its orders.
MILAN, Nov 20 (Reuters) – Italian utility Enel
increased the number of shares it is offering retail investors
in Spanish subsidiary Endesa, which could raise 3.2
billion euros ($4 billion) to help reduce debt.
Enel, Europe’s most indebted utility, is selling up to 22
percent of Endesa as part of wider plans this year to raise more
than 4 billion euros from disposals to help maintain its
investment-grade credit ratings.
LONDON, Nov 19 (Reuters) – Italy’s Generali
expects to hit its 2015 targets a year ahead of schedule and
raise its dividend payout, after cutting costs and selling
assets to focus on its main life, property and casualty
insurance businesses in Europe.
Chief Executive Mario Greco, who promised to shake-up
Generali to improve profitability when he took over in August
2012, unveiled a turnaround plan at the start of last year
centred on cutting debt through the sale of non-core businesses,
such as its U.S. life insurance arm and Swiss private bank BSI.
MILAN, Nov 19 (Reuters) – Italy’s biggest utility Enel
is on track to raise up to 3.2 billion euros ($4
billion) from the sale of shares in its Spanish subsidiary
Endesa, three sources with knowledge of the deal said
Enel, Europe’s most indebted utility, is selling a stake of
up to 22 percent in Endesa to help cut its mountain of debt and
beef up the Spanish group’s market float.
MILAN (Reuters) – Italian industrial conglomerate Finmeccanica (SIFI.MI: Quote, Profile, Research, Stock Buzz) said on Tuesday Japan’s Hitachi (6501.T: Quote, Profile, Research, Stock Buzz) had submitted an offer to buy rail assets it has put on the block as part of plans to cut debt.
Finmeccanica had shortlisted Hitachi and China’s CNR Corporation (601299.SS: Quote, Profile, Research, Stock Buzz) to buy both loss-making train maker AnsaldoBreda and its coveted 40 percent stake in rail signalling group Ansaldo STS (STS.MI: Quote, Profile, Research, Stock Buzz). Bids were due by Nov. 17.
MILAN, Nov 7 (Reuters) – Enel Green Power, Italy’s
biggest renewable energy company, expects to sell its wind power
assets in France by the end of this year and is ready to shed
more of its European business as it focuses on emerging markets.
EGP, majority owned by state-controlled utility Enel
, has gradually been shifting its attention away from
Italy and Spain to countries with abundant resources, good
growth prospects and reliable regulation.
ZURICH/MILAN, Nov 6 (Reuters) – Major European insurers are
to offer shareholders a bigger share of their earnings this
year, as a low level of payouts for damage claims has allowed
them to build up large cash piles.
Italy’s largest insurer Generali said it would
increase the dividend on its full-year results, while
Switzerland’s Zurich Insurance – already a generous
payer at around 70 percent of net income – again flagged that
its shareholders could expect an “attractive” dividend.
MILAN, Nov 5 (Reuters) – Italy’s biggest utility Enel
could sell up to 22 percent of Endesa, a
stake worth about $4.4 billion, as it seeks to increase its
Spanish subsidiary’s free float and reduce its own debt.
The power generation businesses of European utility groups
have had to contend with low wholesale prices and weak demand
during the region’s persisting economic weakness, but Enel is
also under pressure to shrink a debt burden that stood at 43
billion euros ($53.7 billion) at the end of June.