November 30, 2016 / 3:55 PM / a year ago

Lichtblick mulls strategic options, has talked to Enel -sources

FRANKFURT/MILAN, Nov 30 (Reuters) - Lichtblick, Germany’s largest independent supplier of renewable energy, is looking at strategic options for its business and has talked to Italy’s Enel about a possible sale, several people familiar with the matter said.

A deal could give unlisted Lichtblick - which made sales of 665 million euros ($707 million) and profit after tax of 15.1 million euros last year - a value of up to 500 million euros, one of the people said.

The people said that Enel was interested in entering the German market and had looked at Lichtblick’s 650,000 customers to expand its retail network, but added that interest in a takeover had cooled off recently.

Enel, Europe’s largest utility by customers, last week said it aimed to boost its retail base to around 64 million end users from 62 million currently as part of plans to refocus its business on grids, renewable energy and customers.

Dutch energy group Eneco has also cast an eye on Lichtblick, the people said.

A spokesman for Lichtblick confirmed the group was in talks with possible strategic partners, without being more specific, and said it had hired boutique investment bank Greentech Capital Advisors to explore options.

Enel and Eneco both declined to comment.

$1 = 0.9406 euros Reporting by Christoph Steitz, Arno Schuetze and Stephen Jewkes; Editing by Maria Sheahan

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