PPC said it concluded the acquisition of Italian Enel’s Romanian operations for a consideration of 1.24 billion euros. Including debt, the deal is valued at 1.9 billion euros. 

“The acquisition represents a transformational event for PPC’s growth strategy with the acquisition of a significant renewables portfolio (both operating and pipeline), leading electricity distribution and supply businesses, as well as PPC’s first major expansion into a new geography,” PPC said in a bourse filing. 

Citigroup Global Markets, Goldman Sachs, HSBC Continental Europe, AXIA Ventures Group and Euroxx Securities acted as financial advisors to the transaction.