Endesa take-over bid approved

The European Commission has approved Italian power company Enel’s and Spain-based Acciona’s joint bid to take over the Spanish energy company Endesa.

After examining the proposal, the Commission decided that the acquisition would not significantly impede competition in the EEA or any substantial part of it.

It also found that because the companies operated in different geographic areas, the acquisition would not have any negative effects on the markets in which they were active, such as gas infrastructure, gas distribution and coal mining.

The joint bid by Enel and Acciona was approved on 5 July, 2007.