Endessa deal

The European Commission has approved the proposed takeover of Spanish energy company Endessa by contractor Acciona and ENEL, an Italian electricity generator. As part of the takeover deal, Acciona and Enel will sell parts of Endessa to German utilities group E.ON, which had previously bid to fully acquire the company.

The Acciona-ENEL bid values Endessa at € 43,7 billion, and the companies to be sold to E.ON are valued at € 10 billion. These include Endessa's Spanish electricity business, plus operations in Italy, France, Poland and Turkey.