(Alliance News) - Enel Italia Spa on Wednesday finalized the sale to Sosteneo Energy Transition for EUR1.1 billion of its 49 percent minority stake in the share capital of Enel Libra Flexsys S.r.l., a company established to build and manage a portfolio of projects for regulated capacity services.

"The transaction is in line with the "Partnership" model outlined in the Enel Group's Strategic Plan 2024-2026, with the aim of maintaining control of strategic assets and maximizing productivity and returns on invested capital," the corporate note reads.

"The sale of the stake generates an overall reduction in the Group's consolidated net financial debt of about EUR1.1 billion, while it does not generate impacts on the Group's economic results as Enel continues to maintain control of Enel Libra Flexsys S.r.l. and, therefore, to

fully consolidate it," Enel explained in the released note.

Enel closed Wednesday's session in the red by 0.5 percent at EUR6.55 per share.

By Maurizio Carta, Alliance News reporter

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