Endesa Asks The EU Commission to Assume Jurisdiction in the Concentration Operation Launched by Gas Natural; More than one third
September 22 2005 - 11:18AM
Business Wire
Endesa (NYSE:ELE) has requested that the European Commission assume
jurisdiction over the Endesa/Gas Natural concentration operation
pursuant to article 5 of EU regulation governing concentrations
between undertakings and the Commission Notice on Calculation of
Turnover published in Official Journal 66 on March 2, 1988. Endesa
considers that the take-over bid launched by Gas Natural is a
concentration between undertakings of community dimension. In
accordance with accounting principles currently in force and the
interpretation criteria established by the Commission, the
financial information published by the Company for last year shows
that Endesa's turnover gives the concentration a community
dimension under current regulations governing concentrations. The
parties involved, Endesa and Gas Natural, together have a global
turnover of over Euro 5 billion and each generates turnover of over
Euro 250 million within the European Union. Based on this criteria,
the operation can be deemed to be of "community interest" and
should fall under Community jurisdiction. Neither can the
concentration be deemed an exception to the general rule, as no
more than two-thirds of Endesa's turnover in the EU is generated in
any member state. Endesa's turnover in Spain does not exceed 66.6%
of its community turnover. * 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 Documento de Registro de
Acciones 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, 2004. For all of these forward-looking statements, we
claim the protection of the safe harbour for forward-looking
statements contained in the Private Securities Litigation Reform
Act of 1995.
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