Enel’s Dutch subsidiary, Enel Investment Holding, has acquired a 49.5% interest in Res Holdings, a Dutch-incorporated company owning 100% of Res for $105 million, as outlined in the March agreement.
The Russian firm supplies major industrial customers across Russia, Enel said in a statement. Among its clients are Gazprom, Rosneft and the Russian Railways.
Res is set to double its sales from 11TWh in 2005 to 22TWh in 2006. In 2005 Res posted revenues of E285 million and EBITDA of E11 million, Enel notes.
