ENDESA's French Subsidiary, SNET, to Sell Its 23.62% Stake in Power Generator Sechilienne-Sidec to UK-Based Fund Manager Ecofin
July 13 2005 - 1:28PM
Business Wire
ENDESA's (NYSE:ELE) French subsidiary, SNET, has signed an
agreement to sell its 23.62% shareholding in power generator
Sechilienne-Sidec to UK-based fund manager Ecofin Ltd. for Euro
103.6 million, or Euro 320 per share. The deal is contingent on no
takeover bid(s) being made for Sidec. If any bid(s) were to be
launched, the transaction would be delayed until the end of the
acceptance period for the bid(s) under stock market regulations.
Ecofin has no intention of making an offer for any other
Sechilienne-Sidec shares nor is there any prevailing legislation
that obliges the group to do so as a consequence of the
transaction. Sechilienne-Sidec produces electricity and steam at
thermal plants that use coal and sugar cane waste on the islands of
Guadalupe and Martinique in the Caribbean and Reunion and Mauritius
in the Indian Ocean. It also develops wind energy in France. For
additional information please contact David Raya, North America
Investor Relations Office, telephone # 212 750 7200
http://www.endesa.es * This document may contain certain
forward-looking statements regarding anticipated financial and
operating results and statistics that are subject to risks and
uncertainties as well as to material risks, changes and other
factors which may be difficult to predict, including, without
limitation, those factors described in the Folleto Informativo
Continuado of Endesa filed within the Comision Nacional del Mercado
de Valores and in the Form 20-F of Endesa filed within the
Securities and Exchange Commission, both for the fiscal year ended
December 31, 2003. For all of these forward-looking statements, we
claim the protection of the safe harbor for forward-looking
statements contained in the Private Securities Litigation Reform
Act of 1995.
Endesa (NYSE:ELE)
Historical Stock Chart
From Jun 2024 to Jul 2024
Endesa (NYSE:ELE)
Historical Stock Chart
From Jul 2023 to Jul 2024