Endesa Buys Dutch Energy Firm for 1.15 Billion Euros

Published December 22nd, 2000 - 02:00 GMT

The leading Spanish electricity group Endesa said on Friday it had agreed to buy all of Dutch energy operator REMU for 1.145 billion euros (1.06 billion dollars). 

Endesa had signed an agreement to buy the whole of NV Regionale Energie Maatschappij Utrecht (REMU), which owns a gas and electricity supply network for the area around the city of Utrecht, including 25 municipalities, the Spanish company said in a statement to the stock exchange. 

The purchase of REMU, fourth in the domestic market, strengthens Endesa's presence in the Dutch market and follows the acquisition in June of NRE, the gas and electricity supplier for Eindhoven. 

The deal requires approvals from the Dutch finance ministry and regulatory authorities -- MADRID (AFP)  

 

 

© 2000 Al Bawaba (www.albawaba.com)

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