Trending: Enel Aims to Slash Debt Through Asset Disposals
November 23 2022 - 2:44AM
Dow Jones News
Italy's biggest utility Enel is among the most mentioned
companies across global news over the past 12 hours, according to
Factiva data, after the company unveiled a plan to sell assets in
order to cut debt and adopt a leaner structure going forward. The
Rome-based energy player's balance sheet has been a core area of
focus for investors over the past months. Enel now seeks to raise
around EUR21 billion through disposals, reducing net debt toward a
range of EUR51billion-EUR52 billion by the end of next year from an
estimated EUR58 billion-EUR62 billion in 2022. "The new plan should
come as a strong positive," analysts at UBS said in a research
note. "We expect investors to appreciate the disposal and
simplification plan, reduction of net debt, continuation of
renewable deployment without any downside to last year's plan on
earnings or dividend." Dow Jones & Co. owns Factiva.
(giulia.petroni@wsj.com)
(END) Dow Jones Newswires
November 22, 2022 06:36 ET (11:36 GMT)
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