Enel to acquire Endesa for EUR11.1 billion

Italy's largest utility, Enel, has signed an EUR11.1 billion agreement with construction and energy company Acciona for its 25.01% stake in Spanish power company Endesa.

Enel will now have a 92.06% shareholding in Endesa, in line with the contract signed between Enel and Acciona on March 26, 2007. It has also been agreed that EUR2.9 billion of operational wind and hydro assets will be transferred to Acciona from Endesa.