German energy giant E.ON has received the provisional conclusions of the Spanish regulator's assessment of its offer for Endesa.
The Comision Nacional de la Energia has told E.ON orally that it will allow the deal, but with considerable conditions attached, including – E.ON says – forcing the divestment of 7,600MW of Endesa’s power generating assets in Spain.
Bloomberg News reports that, under the terms of the regulatory filing, E.ON will have to sell Endesa’s electricity distribution operations on the Balearic and Canary Islands, as well as three coal-fired and one nuclear plant. In total there are thought to be 19 conditions for E.ON to fulfill, according to Bloomberg.
E.ON says it will review the findings in more detail once they are delivered in writing. However, in a statement on its website, the company said it sees no justification for the conditions it is already aware of and reserves all legal options.
E.ON is strongly committed to the acquisition and believes that it will benefit all stakeholders: customers, employees and shareholders as well as the wider Spanish economy. Following its detailed review of the CNE decision, E.ON will inform the market of any further action it may take, the firm added.