Enel in final talks to buy hydro, gas assets from Erg -paper - Reuters

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A logo of Italian multinational energy company Enel is seen at the Milan's headquarter, Italy, February 5, 2020. REUTERS/Flavio Lo Scalzo/File Photo

ROME, July 20 (Reuters) - Enel (ENEI.MI) is in final negotiations to buy hydroelectric and gas assets from Italian renewable energy company ERG (ERG.MI), beating rival offers from competitors including France's Total, daily Il Sole 24 Ore said on Tuesday.

Enel's bid is in pole position after Erg has received offers from all contenders for assets worth more than 1 billion euros ($1.2 billion), the paper added.

Reuters had reported in March that Erg was looking to sell the assets in order to reinvest in its solar and wind business abroad, while maintaining credit stability, and the sale drew interest from funds and utilities. read more

($1=0.8488 euros)

Reporting by Giulia Segreti; Editing by Clarence Fernandez

Our Standards: The Thomson Reuters Trust Principles.

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