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Gas Natural bids to join top table

机译:Gas Natural竞标进入榜首

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摘要

Endesa's rejection of Gas Natural's hostile takeover bid, made on September 5 in collusion with Endesa's rival Iberdrola, guarantees a heated winter in Spain's energy sector. The ?22.5 billion bid for Endesa, at ?21.3/share, was dismissed as "manifestly insufficient" by Endesa, whose "preliminary evaluation" 24 hours after the bid stressed that it was "made in a hostile way and in Endesa's absolute ignorance". To sidestep opposition on competition grounds, the bid includes a ?7-9 billion divestment of Endesa assets to Iberdrola. GN-Endesa would also sell gas distribution lines supplying 1.25 million clients in Spain. GN managing director Rafael Villaseca said competition would not suffer as GN had just a 3.5% share of Spain's electricity market and Endesa had only a 4% gas market share. Yet GN controls 70% of the Spanish gas market, while Endesa dominates 40% of the electricity sector.
机译:Endesa拒绝了Gas Natural于9月5日与Endesa的竞争对手Iberdrola勾结的敌意收购要约,这保证了西班牙能源行业的冬季升温。 Endesa以225亿欧元的价格(每股21.3欧元)将Endesa的出价视为“明显不足”,Endesa在出价24小时后的“初步评估”中强调,这是“以敌意的方式做出的,Endesa绝对是无知的”。 。为了避开基于竞争的反对,出价包括将Endesa资产7-9亿欧元剥离给Iberdrola。 GN-Endesa还将出售天然气分销线,为西班牙的125万客户提供服务。 GN董事总经理拉斐尔·维拉塞卡(Rafael Villaseca)表示,竞争不会受到影响,因为GN仅占西班牙电力市场的3.5%,而Endesa仅占天然气市场的4%。然而,GN控制着西班牙70%的天然气市场,而Endesa则主导着40%的电力部门。

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