Endesa Said to Receive Three Bids From Funds for Spain Natural-Gas Network

 

Endesa SA, the Spanish utility controlled by Enel SpA, received three bids from infrastructure funds for its natural-gas distribution and transmission assets in Spain, according to two people with knowledge of the matter.

Funds associated with Macquarie Bank Ltd., Goldman Sachs Group Inc. and Axa Private Equity made offers for the assets, which may be valued at as much as 750 million euros ($963 million), said one of the people, who asked not to be identified because the sale process is private.

Karen Smith, a spokeswoman for Macquarie in London, a spokesman for Enel in Rome and a spokeswoman for Goldman Sachs in London, who asked not to be identified, declined to comment. No one was immediately available to comment at Endesa's offices in Madrid and a spokeswoman at Axa Private Equity in Paris didn't immediately respond to messages.

Italian utility Enel owns 92 percent of Endesa after gaining control of the Spanish company in 2007. As part of that deal, Endesa transferred some renewable-energy units to builder Acciona SA and sold assets to Germany's E.ON AG. The company is selling more units to increase savings after the takeover.

Endesa, Spain's second-largest utility, said in July it expected binding offers this month for 80 percent of its natural-gas distribution and transmission assets in Spain.