An experienced guide to the world of finance
providing tools and information that help make
best financial decisions
My FinanceGates.com
Register
Home
|
News
|
Business News
SEARCH
News & Commentary
News
Reviews
Columnist Articles
RSS News
Economy
Economic Charts
Financial Calendars
Banking & Loans
Loan Rates
Deposit Rates
Rate Alert
Banking Top Rating
Education
Banking
Investing
Stock Brokerage
Dictionary
Financial Directory
Banking
Funds
Insurance
Stock Brokerage
Billing
My FinanceGates
Register
Sign In
MLS Canada
Market News
Insurance
Billing
Banking
Business News
World News
Funds
Brokerage
Friday May 13, 08:31
Edison to be bought by EDF, Aem
(by Olivia Cohen)
Send link to friend
e-realtor.org
FashionGates.com
Italian energy company Edison SpA agreed to be bought by the world’s largest power company Electricite de France SA and Italian utility Aem SpA for 7.28 billion euros ($9.2 billion).
The two companies will purchase a 62% stake in Edison for 4.08 billion euros in a deal that will allow the companies to have equal stakes in Edison.
In 2001, French power giant made an attempt to bid for the company, but its endeavour bore fruit only this year. EDF said that the deal tops its expectations.
Electricite de France and Aem said that after purchasing 62% of Edison they will try to bid 1.86 euros a share for Edison’s traded stock, which is about 10% higher than the May 6 price, for a total of as much as 3.2 billion euros.
Last week, the Italian and French governments agreed to wind up a four-year dispute over competition in their power markets.
Under the terms, EDF will appoint Edison’s chief executive and chief operating officer, and Aem will appoint the company’s chairman. The purchase will be made through a buyout vehicle.
All business news
KEYWORD SEARCH
KEYWORDS:
Whole site
in News & Articles
in Catalogue
in Forum
SUBSCRIPTION
Join FinanceGates.com mailing list and get news and financial advices on home finance, auto finance, insurances, funds, online payments and much more.
ABOUT US
PARTNERSHIP
ADVERTISING
LEGAL DISCLAIMER
PRIVACY POLICY
CONTACT US
LINKS
RSS NEWS
Copyright © FinanceGates.com - independent financial advice and personal finance advice, an InternetGates.com company, 2003-2012. All rights reserved.
Finance Gates provides personal finance advice on banking, insurance, investing and billing.
Reading materials of this site you can be sure that you get independent financial advice.