Premier 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 restructuring to meet 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 $497m plus the repayment of inter-company debt of $295m.