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Enel, the listed Italian energy group, is interested in acquiring some of Suez’s assets, said chief executive officer Fulvio Conti. Speaking to this news service on the sidelines of the annual meeting in Rimini, Conti said that Enel could acquire some of the assets if Suez were to sell them. “Suez has to sell some assets, like the one in Belgium, as requested by Antitrust,” he said.
Suez and its proposed merger partner GDF promised, to the European Commission, the sale of various assets in Belgium to gain antitrust approval if their merger goes ahead. The deal is still in question after lengthy delays surrounding the French presidential election. A decision is expected next month but La Tribune has reported that the government, which controls GDF, may no longer favour the original merger plan.
If the deal does go ahead, the assets pledged for sale include Suez subsidiary Distrigaz; a reduction in Suez’s stake in Fluxys; and the sale of GDF’s 25.5% stake in SPE, according to Suez’s annual report. Suez said it would examine asset exchanges with other market participants during the first half of 2007.
Meanwhile, Conti said that Enel’s joint takeover offer with Acciona for Endesa of Spain is expected to finalise in October. “We expect a positive result,” he stated.
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