Spanish Endesa competes with EDP in the race for German E.On – Business Journal – Portugal

Spanish Endesa competes with EDP in the race for German E.On – Business Journal – Portugal

The E.On is to leave Spain. Ended earlier this week the deadline for submission of non-binding offers. The EDP is seen by the Spanish newspaper Cinco Dias, as the “natural buyer.”

The German E.On has its Spanish unit for sale. The delivery process of non-binding offers by interested parties ended at the start of the week. The Spanish Endesa is the last name of an advanced list appears where the Portuguese EDP.

According to Cinco Dias newspaper, “the natural buyer of the company for sale is EDP Spain, its main competitor in the autonomous community of Cantabria. ” According to the Spanish press, the company led by António Mexia (pictured) have been one of that delivered a (preliminary) non-binding offer.

The newspaper reminds that the CEO of the company said he had in mind any acquisition that exacerbate the level of debt. Although the E.On was interesting, as Mexia

It is obvious that we have an obligation to look at those assets. Makes sense, given the geographical proximity and our presence in Spain. . If we did not, or were distracted … or dead

Mexia

admitted in early August: “Obviously we have the obligation to look for those assets. makes sense, given the geographical proximity and our presence in Spain. If we did not, or were distracted … or killed, “said António Mexia.

” The Portuguese group is the looking for a way to do it without harming their financial situation, “indicates the Five Days.

But the EDP is not only interested in staying with the unity of the German energy (which is disinvest in Spain) since, according to Spanish media advances, the specification was raised for consultation by dozens of investors.

The Europa Press indicates that the Spanish Endesa, which is controlled by Italy’s Enel, will be presented, also, an offer by the Spanish assets of E.On. . The Italian group have already made it known that the German company’s assets that are “interesting” for your business

The Spanish press ahead with other potential buyers, always citing market sources: Gas Natural Fenosa and Acciona in addition to funds such as Blackstone and Riverstone. No company name is confirmed. Sure is, according to Cinco Dias, the Spanish Iberdrola chose not to submit any offer.

According to the same newspaper, is not so much a portfolio of clients that may be of interest to buyers, since there is no any loyalty. The distribution network of the unit may be the big draw.

According to Europa Press, E.On Spain has 1,100 employees and more than 650 000 customers.