By Mauro Orru

Endesa SA said Friday that it has reached an agreement with union representatives for no more than 577 voluntary departures following the company's decision to discontinue its coal thermal plants in the Iberian Peninsula.

The Spanish utility company, which is part of Enel SpA, said it would book a provision with a non-recurring impact of approximately 213 million euros ($251.1 million) as a result of the agreement.

However, the impact won't affect shareholder remuneration for 2020, Endesa said.

Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94

(END) Dow Jones Newswires

July 31, 2020 13:07 ET (17:07 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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