Greek metals and energy group Mytilineos Holdings SA (MYTIL.AT) said Wednesday it has bought out Spanish Endesa SA's (ELE.MC) stake in a joint venture Greek power company for EUR140 million.
Greek metals and energy group Mytilineos Holdings SA (MYTIL.AT) said Wednesday it has bought out Spanish Endesa SA's (ELE.MC) stake in a joint venture Greek power company for EUR140 million.

The acquisition, which is subject to approval from regulatory authorities, will be paid through a series of installments scheduled to extend through July 1, 2012 , the company said.

As part of the deal, Endesa will acquire one wind park and three hydropower plants with a total installed power generating capacity of around 14 megawatts worth EUR20 million that also belonged to the joint venture.

The joint venture was originally set up in 2007 by the two companies.

Mytilineos said it would continue to implement the business plan which aims for 1.2 gigawatts of installed capacity from thermal plants by 2011, and more than 800 megawatts in renewable energy projects currently in different stages of development.

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