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EU clears Enel-Acciona bid for Endesa

The European Commission cleared the €42.5 billion ($65.3 billion) takeover of Spanish utility group Endesa by Italian rival Enel and Spanish infrastructure group Acciona on Monday.

The European Union’s antitrust department had previously cleared the takeover but it was resubmitted after a deal by the acquirers to sell some of Endesa’s assets to E.ON of Germany, the Commission said in a statement. “This new agreement excludes one of Endesa’s power plants that was to be divested to E.ON (the Foix power plant in France) and substitutes one power plant in Spain (Besos 3) for another one (Tarragona 1),” the statement said. (Reuters)