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April 3, 2007

by Rebecca Bream

Silver lining for Eon in Spain

On Monday night, Eon, Enel and Acciona announced a shock ceasefire (may require ft.com subscription) in the battle to control Endesa, Spain’s biggest energy group. Eon agreed to drop its bid, clearing the way for Enel and Acciona to make an offer. In return, Eon will be allowed to buy a chunk of Endesa’s assets worth around Euros10bn, giving the German group an entry into several new markets. Analysts are saying that this is a good outcome for Eon, and Platts is today looking at who could be Eon’s next target.

April 3rd, 2007 in Electricity | Permalink

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