Enel, the Italian electricity group, outlined plans yesterday for a €13bn ($17.7bn) flotation of its renewable energy business.
The initial public offer of a minority stake in Enel Green Power is likely to be the largest in Europe since the financial crisis broke in the summer of 2008.
Fulvio Conti, Enel's chief executive, said that in the next few weeks the company would be holding a “beauty parade” to choose advisers, and planned to issue a prospectus in April, in order to complete the sale by the end of the year. The company would be dual listed in Italy and Spain.
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