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November 23, 2022
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Enel confirms its exit from the Peruvian market

Enel confirms its exit from the Peruvian market

The Italian firm , one of the most important companies in the country, confirmed this Tuesday that it will withdraw from the Peruvian market in the face of the global energy crisis. The foreign company also announced its departure from Argentina and Romania.

Through a fact registered in the Superintendency of the Stock Market in Peru (SMV), it was detailed that the statement was given at the “Capital Markets Day” event, where they mentioned their intention to leave Peru.

Given this, Francesco Starace, CEO of the multinational, indicated that the withdrawal from Peru is due to the fact that Enel has already reached a stable position of growth.

It’s not that we don’t like Peru, but we’ve finished what we had to do there and there’s not much else we can do. (…) It is not a negative judgment on the regulatory framework or the policies implemented by the countryStarace said.

Likewise, Starace indicated that this action includes the sale of all the assets of the Italian company in Peru as of 2023.

We have interested parties (in the purchase of Enel Perú) and we believe that this process will be completed in the period of 2023″, mentioned the Italian executive.

The measures taken include the sale of its natural gas portfolio in Spain and the sale of its electricity distribution business in Brazil (Ceará).

Finally, it is important to note that the Italian company obtained a total of 465 million euros in Peru in the first nine months of 2022. Likewise, Bloomberg online indicated that the business in the country would be worth US$ 5,000 million, and said asset would already have the preliminary interest of strategic suitors and investment funds.

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