EC approves Enel and Endesa assets takeover by E.ON

Joi, 19 iunie 2008, 15:52 English | Business

German energy group E.ON obtained on Thursday the required approval of the European Commission, in order to buy some of the assets of competing companies Enel (Italy) and Endesa (Spain). The assets about to be taken over are evaluated at 11.5 billion euro for Endesa and 2.025 billion euro for Enel.

The Commission also approved the acquisition of Spanish company Viesgo by E.ON.  “E.ON will control Viesgo, Endesa Europe - which controls the Endesa affairs in France, Poland, Italy and Turkey, as well as several smaller businesses Endesa has in Spain", an European Commission report indicates.

Enel, the fourth largest energy company in Europe, bought Endesa together with Acciona, for 42.5 billion euro, in 2007. Later, Enel and Acciona decided to sell some of the assets held in Spain, Italy and France to E.ON.