Enel to acquire Endesa for €11.1 billion
Italy's largest power company Enel has signed an €11.1 billion agreement with Spanish development company Acciona, for its 25.01% stake in Spanish power company Endesa.
Enel will now have a 92.06% shareholding in Endesa, in line with a contract signed between Enel and Acciona on March 26, 2007. It has also been agreed that €2.9 billion of operational wind and hydro assets will be transferred to Acciona from Endesa.
"With this acquisition Enel will gain full control of Endesa, a leader in Iberia and Latin America, with major growth opportunities," says Fulvio Conti, chief executive officer and general manager of the Enel Group. "Enel and Endesa will be able to
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