Endesa valid
Barcelona (Platts)--6Feb2007
A US district court has rejected an E.ON demand that Acciona be required
to sell Endesa shares that were acquired on or after October 5, equal to
around 8% of the Spanish power producers capital.
The court ruling, a copy of which was filed Tuesday by Acciona with
Spanish stock market regulator CNMV said Acciona was entitled to its full 21%
voting rights when shareholders vote on whether or not to keep the 10% voting
right cap. E.ON wanted Acciona to have less influence over a vote on the cap.
Additionally, Spanish construction company Acciona will not be prevented
from acquiring further shares in the power power, according to the filing.
However, the court did find that Acciona, which currently owns 21% of
Endesa, had filed misleading and incomplete statements relating to a series of
stake purchases in the power producer that began in September and ordered the
building company to refrain from making any further misstatements or
omissions.
The court said it "forcibly reminds Acciona of its duty to comply with
its disclosure obligations under American law." The rulings were issued by a
US district court in New York, where Germany's E.ON had been seeking court
injunction to prevent Acciona from interfering in its Eur41.03-billion
($53.08-billion) takeover attempt of Endesa, whose shares trade on the New
York stock exchange.
The construction company is opposed to the takeover, preferring to see
the target company remain as an independent operation.
For simliar news, request a free trial to Power in Europe at
www.platts.com/Request%20More%20Information/index.xml?src=story
________
Alles was ich hier poste, ist eine Satire.
Nichts ist wahr, Alles ist nur eine Geschichte.
Ähnlichkeit mit lebenden oder verstorbenen Personen sind rein zufällig.
Ähnlichkeit mit Tatsachen sind reiner Zufall.
Charts oder andere Meinungen sind keine Kaufempfehlungen.
Alles was ich hier schreibe sind reine Fiktionen.
Ein Bezug aus dieser virtuellen Welt zur realen Welt ist rein zufällig, nie intendiert und unterliegt der Täuschung des Lesers.