An infrastructure fund sponsored by Goldman Sachs has submitted a final bid to acquire Endesa’s natural-gas distribution and transmission network in Spain.
The Italian energy provider, Enel, which owns 92% of Endesa, is looking to sell off an 80% stake in the Spanish business in an attempt to develerage its books following the EUR42 billion acquisition of Endesa in 2007.
As of 2009, the asset was thought to consist of approximately 400,000 connection points and generated 2009 EBITDA of EUR58.4 million.
Operis was appointed to provide financial model due diligence on behalf of the Goldman Sachs Infrastructure Partners.
