(Bloomberg) --

Enel SpA has extended an exclusivity period for talks with Greece’s Public Power Corporation S.A. on the potential sale of its Romanian operations until the end of February.

PPC entered an exclusivity agreement with the Italian utility in December in relation to the potential acquisition of the entire equity stakes held by Enel in Romania. The parties “will inform the market should they enter into a binding agreement on the transaction,” the Italian company said in a statement on its website on Saturday.

The announcement comes as Enel grapples with rising debt levels and is part of a broader divestment push to sell as much as €21 billion in assets.

The Italian company has also put up for sale some businesses in Argentina and Peru, as Bloomberg reported earlier. 

Read more: Enel to Sell Assets Worth €21 Billion in Bid to Reduce Debt 

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