* Looking for opportunities from liberalisation in Brazil
* CFO says Endesa is not for sale
* No plans to scale back Chile investments
By Stephen Jewkes
MILAN, May 12 Europe's biggest utility Enel
is not interested in large acquisitions but is looking
for opportunities to buy grid networks around the world,
including in South America, CFO Alberto De Paoli said on Friday.
Enel, which recently bought Brazilian power distribution
company Celg-D, already owns generation and distribution assets
in Brazil and is the biggest private energy player in South
"We are interested in making more grid acquisitions in
Brazil if opportunities arise from market liberalisation," De
Paoli told Reuters in a phone interview after the group's first
Enel is looking to its grids and green power businesses to
drive growth, especially in emerging markets and North America.
"In Europe we could be interested in buying small-size
renewable energy concerns and retail businesses," De Paoli said.
Enel, which became Europe's biggest utility last year when
it re-absorbed its green energy unit, controls Spanish utility
There have been media reports that investment funds could be
interested in buying Endesa, but De Paoli said it was not for
"We are happy with our Spanish investments and have
absolutely no plans to sell down our stake," he said.
In first quarter results on Friday Enel's core earnings were
impacted by lower margins in its Iberian businesses.
De Paoli, who confirmed Enel's 2018 business targets, said
business in Argentina and Brazil was improving and the company
intended to continue investing in Latin America.
There has been some media speculation that the group is
considering selling down its business in Chile, but De Paoli
said that was not the case.
"There are no plans to scale back our investments in Chile,"
(Reporting by Stephen Jewkes; Editing by Susan Fenton)