Enel Russia was renamed into EL5-Energo

Enel Russia was renamed into EL5-Energo

At the Extraordinary General Meeting of Shareholders of Enel Russia, a number of decisions were made, including the renaming of Enel Russia to EL5-Energo. Enel closed a deal to sell its stake in Enel Russia to LUKOIL and the Gazprombank-Freesia fund on 12 October.

“A new version of the charter was approved, which provides for a change in the trade name of PJSC Enel Russia to the public joint-stock company EL5-Energo and the transition to the www.el5-energo.ru domain,”— informs company following the meeting of shareholders. Changes to the charter will come into force for third parties from the moment of state registration, the company also said.

September 30, President Vladimir Putin by his order allowed LUKOIL and the investment fund Gazprombank-Freesia to acquire the Italian Enel's share in Enel Russia.

Enel is the largest energy company in Italy and one of the largest in the world. In 2021, Enel's net profit was €3.2 billion.

As Reuters reported, the final amount of the deal to sell Russian assets to Enel was $133 million. Previously, Enel appreciated costs from the sale of its stake in Enel Russia in €527 million.

Founded in 2004, the Russian business generated just over 1% of Enel's total gross operating income, according to Bloomberg Intelligence.

Read about the deal in the publication "Kommersant" "Enel is leaving with a discount".

Maria Fedotova

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