Enel/EGP independent advisor draws up share exchange ratio for merger
KPMG, the independent advisor appointed by Enel [BIT:ENEL] and Enel Green Power [BIT:EGPW] (EGP) has recommended a share exchange ratio for the merger between the two groups, Italian language daily Milano Finanza reported.
The article cited the KPMG study and said the share exchange ratio is 0.486 newly issued Enel shares for one share in EPG. The study also noted that the merger with EGP will boost Enel's value by EUR 8.5bn, the article added.
The report said that Enel intends to issue up 770,588,712 shares to delist and merge its subsidiary EGP.
Milano Finanza daily edition