Enel to consider increasing Endesa stake to 24.99 pct |
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Published
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Wed, 28 Feb 2007 10:19
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MILAN (AFX) - Enel SpA confirmed it has completed the acquisition of 9.99 pct of Endesa SA and said it is considering increasing the stake to 24.99 pct.'Enel will consider raising its stake in Endesa up to 24.99 pct of the share capital should the company obtain the authorization from the Comision Nacional de la Energia (CNE),' the company said in a note.Yesterday Enel completed the purchase of a 9.99 pct stake, or 105.8 mln shares, in Endesa at 39 eur per share.The investment totaled 4.126 bln eur.Enel said the acquisition of a minority shareholding in Endesa is part of the group's strategy aimed at strengthening the company's position on the Spanish and European power market.The acquisition of Endesa shares was finalized in an off-market transaction with institutional investors, Enel said.The group added the operation was financed through Enel's cash flow and existing credit lines and was conducted on a stand-alone basis without any connection to any other Endesa shareholder.stephen.jewkes@thomson.comsj/hjp/sj/jfrCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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Enel buys 9.99 pct of Endesa at 39 eur/shr 