U.S. News

Regulator Approves Endesa Takeover with Conditions: Report

Spain energy regulator CNE has approved Enel and Acciona's joint takeover of Endesa SA with conditions that will continue to be debated by the regulator today and tomorrow, Cinco Dias reported, citing unnamed sources.

The possible conditions include maintaining investments in Endesa's infrastructure and regulated assets, and that the utility remain an independent company with headquarters in Spain, the newspaper said.

There may also be conditions on the supply of raw materials such as gas, it said.

The CNE also wants to retain the right to revoke authorization of the deal if the future managers of the company take decisions that put energy supply at risk. Separately, Expansion reported that Endesa has agreed to open its books to Enel and Acciona to ease the takeover transition.