Sunday, May 28, 2023

Garrigues, EY guide Endesa on the sale of 51% stake in EME to Enel for €122m

Garrigues and EY have advised Endesa on the sale of a 51% stake in Endesa Movilidad Eléctrica (EME) to Enel for €122.4 million.


The transaction consists of the partial sale by Endesa X of 51% of its stake in EME to Enel X
Way Srl (a company wholly owned by Enel S.p.A) and which specialises in electric mobility, as part of a global project that aims to add greater value to future management activities with regard to electric mobility worldwide.

The total for the transaction consisting of the purchase and sale of shares amounts to €122.4 Million.

Prior to this operation, Endesa proceeded to partially segregate the Endesa X electric mobility business by creating a new company, called “Endesa Movilidad Eléctrica, S.L.” (“EME”). This segregation consists of an economic management unit for chargers and charging stations.

The sale of 51% of EME’s share means for Endesa materialising part of the value of the branch of activity in operation at a very positive price and maintaining 49% of EME’s shares, and therefore a part of the potential profit contributed with the entry of Enel X Way into the activity. In short, the operation enables Endesa to maintain and enhance its presence in the
segments of the electric mobility value chain linked to its main activity (electricity supply
and ownership of charging stations), while significantly improving its competitive strategy
in global activities in which size and global dimension are essential (the management of
charging stations), acting in this area as a partner of a global player like Enel.

Garrigues advised Endesa with a team formed by executive chairman Fernando Vives partner and head of Energy Silvestre Arana and M&A principal associate Roldán García Pereda.

Accenture advised on theStrategic Reasoning Report, EY Corporate on the Fairness Opinion, EY Abogados on the Fairness and Reasonableness Report.

- Advertisement -spot_img
- Advertisement -spot_img


Baker McKenzie advises isEazy on acquisition of 70% stake by ProA Capital

Following the sale of 70% of its shares to the Spanish private equity fund, ProA Capital, IsEazy's objective is to internationalise the company and...

Allen & Overy and Shearman & Sterling announce merger

This merger will combine two of the world’s most prestigious law firms, leaders in their respective markets, to create an integrated global elite firm....

Lightsource bp adds managing counsel in Spain

Before joining Lightsource bp, he was the head of Legal Spain and Portugal and compliance officer at global developer BayWa r.e. Since he joined...
- Advertisement -spot_img