Spanish power utility Endesa SA (ELE.MC) is planning to make an announcement on the possible sale of a portfolio of European assets to E.ON AG (EOA.XE) today after the market close, a company spokesman said Thursday.
Endesa will say in a regulatory filing whether there's a final agreement on the price for the sale, or if talks on pricing must continue for a further month, the spokesman said. If there's agreement, the final price will also be unveiled, he added.
The sale was agreed by E.ON and Endesa's top shareholders - Spanish infrastructure and energy company Acciona SA (ANA.MC) and Italian power utility Enel SpA (ENEL.MI) - last year, in exchange for E.ON's withdrawal from a bidding battle for Endesa.
E.ON is expected to purchase about EUR10 billion worth of assets in Spain, Italy, France and Turkey presently in the hands of Endesa and Enel.