Top Italian firm Bonelli Erede Pappalardo has worked opposite New York’s Cleary Gottlieb Steen & Hamilton in advising on the final sale in Italian energy giant Enel’s massive restructuring to fit in with tough new anti-competition regulations.

The deal saw the third and final part of Enel – Interpower – sold to Volt, a special purpose company owned by Energia Italiana, Acea and Electrabel, for e535m (£357.5m) plus the repayment of inter-company debt of e318m (£212.5m).