Friday May 16, 10:51 AM
EU inquiry deadline for Enel, Acciona buy of Endesa June 17
BRUSSELS (Thomson Financial) - The European Commission has set a June 17 deadline for its inquiry into Italy's Enel SpA (Milan: ENEL.MI - news)
. and Acciona SA.'s proposed joint acquisition of Spanish energy group Endesa SA.
The commission demanded on Thursday the Spanish government lift the conditions imposed on Enel and Acciona's buy of Endesa (Madrid: ELE.MC - news) , threatening the country with court action if no remedy is taken.
The conditions imposed on Spain include the obligation for Enel and Acciona to maintain Endesa as an independent company and to retain its decision-making centre in Spain.
They also include the limitations on Endesa's debt service ratio and its dividends distribution policy.
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