July 11, 2018 / 12:56 PM / 8 months ago

Enel pulls out of race for Terra Firma solar assets in Italy: sources

FILE PHOTO: The new logo of Italy's biggest utility Enel is seen inside its flagship store in downtown Milan, Italy, May 4, 2018. REUTERS/Stefano Rellandini/File Photo

MILAN (Reuters) - Italian biggest utility Enel (ENEI.MI) is pulling out of a race to buy Terra Firma’s solar power assets in Italy, leaving infrastructure fund F2i to bid alone, two sources close to the matter told Reuters on Wednesday.

The British private equity firm is looking to sell its Rete Rinnovabile, known as RTR, solar portfolio in Italy in a deal that is expected to fetch more than 1 billion euros ($1.17 billion).

Italian oil major Eni (ENI.MI) was also among the potential buyers but pulled out earlier this week. Utility A2A (A2.MI) also dropped out in June.

Reporting by Giancarlo Navach and Stephen Jewkes, writing by Giulia Segreti

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