Endesa to sell gas distribution assets to Goldman Sachs

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Spanish energy group Endesa, which is owned by Italian firm Enel, said on Monday it planned to sell 80 percent of its natural gas distribution assets, worth 800 million euros (1.077 billion dollars), to funds managed by US bank Goldman Sachs.

The group maintains an option to buy back the assets five or seven years after the deal.

The assets to be sold include 80 percent of Endesa's 4,500-kilometre (2.700-mile) distribution network and 600-kilometre transport network.

It hopes to conclude the deal by the end of 2010, it said in a statement.

© 2010 AFP

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