EU OKs Enel Control of Endesa

摘要

The European Commission said Wednesday it has cleared Italian giant Enel's acquisition of sole control of Spanish power firm Endesa. Enel announced in February that it was raising its stake in Endesa to 92.06% from 67.05% after finally clinching a deal with Spanish construction firm Acciona; the 25% stake cost it ?11.1 billion ($14.25 billion) gross, or ?9.6 billion net. But Endesa itself will be slightly smaller because of a side deal transferring 2,105 MW of its wind and hydro assets to Acciona for a debt-free price of ?2.89 billion (IOD Feb.24,p9).