AXA and F2i to bid for Endesa’s gas assets
It is understood that AXA Private Equity and Italian investor Fondi Italiani per le Infrastrutture (F2i) are joining forces to bid for the acquisition of utilities company Endesa gas' assets in Spain.
In July last year, AXA Private Equity and F2i acquired an 80% stake in Enel Rete Gas from its parent Enel Distribuzione in a deal valued at €480m. The deal was financed with a €140m vendor loan granted by Enel to the bidders at an annual interest rate of 8.25% reaching maturity in 2017. Enel owns 92% of Endesa.
Endesa’s gas network in Spain comprises 4,050 kms of gas distribution tubes, and 859 kms of gas transport tubes.
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