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| Acciona to raise its stake in Endesa to 24.9 per cent  Spanish energy authority CNE (Comisión Nacional de la Energía) has authorised Finanzas Dos, S.A., a company controlled by construction company Acciona, to increase its participation in Endesa up to 24,9 percent. Until now Acciona has held just under 10 per cent of Endesa stock. CNE has established a series of conditions, among them, that this percentage does not imply control, neither "exclusive" nor "joint", of the management of the power company, which would require carrying out a new authorisation procedure with the CNE.Acciona shall have to report to the power regulatory board every quarter regarding its shareholding in Endesa and the "degree of influence" said participation confers, as well as regarding its presence in the governing bodies of the power company. These conditions imposed by the CNE will not prevent Acciona from exercising the influence that corresponds to its role as key shareholder in Endesa, in terms of its participation in the management of the company. write your comments about the article :: © 2006 Construction News :: home page |