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Spanish government to approve bid for Endesa with conditions
Saudi Press Agency Published in Saudi Press Agency on 11 - 01 - 2006


The Spanish government will approve
Gas Natural's ¤22 billion bid (US$26 billion) hostile
takeover bid for electricity company Endesa SA before Feb.
5, but with tough conditions attached, a Spanish newspaper
reported Wednesday.
The government will also cancel Gas Natural's exclusive
agreement with energy film Iberdrola SA to sell several
Endesa assets for between ¤7 billion (US$8.4 billion) and
¤9 billion (US$10.8 billion), Madrid's leading newspaper El
Pais said citing unnamed government officials.
Since Gas Natural made its bid for Endesa last September,
several regulatory bodies have ruled on the deal that would
create one of Europe's biggest power and gas utilities.

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