ENEL CONFIRMS ITS STRATEGY OF STRENGTHENING ITS POSITION ON THE SPANISH AND EUROPEAN ELECTRICITY MARKET

Published on Wednesday, 28 February 2007

Rome, 28 February 2007 - Enel S.p.A. (Enel) confirms of having completed the acquisition of 105,800,000 shares of Endesa S.A. (Endesa), the leading Spanish utility, representing 9.99% of the Spanish company’s share capital at the price of 39 euros per share, for a total consideration of 4,126.2 million euros.

The acquisition of Endesa’s shares was finalized in an off-market transaction with institutional investors, was financed through Enel’s cash flow and existing credit lines and was conducted on a stand-alone basis without any connection to any other Endesa’s shareholders. 

The acquisition of a minority shareholding in Endesa is part of Enel’s strategy aimed at strengthening the company’s position on the Spanish and European electricity market.

Following this acquisition Enel will consider raising its stake in Endesa up to 24.99% of the share capital, should the company obtain the authorization from the Comision Nacional de la Energia (CNE).

Price Sensitive | February, 28 2007

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