Translated material
The Spaniards agree
E.ON hopes to begin takeover of Endesa next week
Next week, Spanish authorities may approve the takeover of the energy company Endesa by the German concern E.ON, estimated at 27.1 billion euros. This was stated by the head of the board of E.ON, Wulf Bernotat, when summing up the results of the concern’s activities for nine months. By the end of this week, the Spanish concern, as he noted, will submit the necessary documents to the Spanish exchange supervision agency CNMV.The Spaniards, it seems, are no longer going to obstruct the deal. The Spanish National Energy Supervision Commission (CNE), which previously opposed the entry of a foreign energy concern into the country and therefore put forward 19 significant restrictions on E.ON, announced a complete abandonment of them. Representatives of the European Commission have repeatedly spoken about the inconsistency of these restrictions with the antimonopoly legislation of the European Union, who demanded that the Spanish authorities approve the deal without any conditions.
Thus, the largest diversified energy company will emerge on the global electricity and natural gas market. As a result, there has been recent speculation that E.ON will now attempt to acquire the assets of Scottish Power. However, Mr Bernotat rejected them: "We do not intend to do that."
At the end of nine months of this year, E.ON’s turnover increased by 25% and reached 49.5 billion euros. The gas company E.ON Ruhrgas, as before, played a significant role in the growth of profits, which exceeded 6 billion euros before taxes and contributions. “The results of the first nine months show that we are on the right track,” Mr. Bernotat said.