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Spain: CNMC approves EAEC-Endesa deal

 |  July 17, 2018

Spanish electric giant Endesa, through its subsidiary Endesa Red, has made a binding purchase offer for the entirety of Ceuta Electric Lighting Company (EAEC) for an amount of €87.5 million. The Spanish competition authority, CNMC, has approved of the operation in its first phase.

EAEC has more than 30,000 customers and is the main electricity distribution and commercialization company in the autonomous city of Ceuta, where Endesa has some electricity generation activities.

ENDESA’s offer was previously conditioned on the approval of the competition authorities and for Endesa Red to acquire, at least, a controlling stake of more than 50.01%.

Full Content: La Vanguardia

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