The European Commission (EC) said that the takeover will not be anti-competition. The takeover was originally authorized by the EC in July 2007. But a new agreement between E.ON, Acciona and Enel implied that further approval by the EC was required, according to the news source.
EC officials said that the ramifications of the new agreement were negligible due to minor changes in the market shares of the companies involved. Under this new agreement, Endesa’s Foix power plant in France will not be divested to E.ON and the Besos-3 plant will be divested instead of the Tarragona-1 facility, reported Europolitics.
Under the agreement, Acciona and Enel will transfer various rights and assets to E.ON, including Endesa assets in Spain and Enel’s existing electricity generation, distribution and supply business in Spain, except for its stake in Grupo Enel Union Fenosa Renovables.
Other assets to be transferred to E.ON include Endesa’s businesses in Italy and related entities in France, Turkey and Poland. These transactions are part of the agreement between the companies to settle E.ON’s dispute with Enel and Acciona over their respective acquisition bids for Endesa, according to the news source.
