Consolidation drives Utility Sector
Consolidation remains the key theme within the European utility industry.
After the Suez/Electrabel announcement last month, Gas Natural took center stage launching a EUR 22.7 billion offer for Endesa. Speculation around Union Fenosa continued as Spanish construction company ACS acquired a 22% stake at a 20% premium to the current market level. Apart from the heightened merger activity in Spain, E.On confirmed that it is considering a takeover of Scottisch Power. Please refer to the PDF document below to view the full September report for the EIC Energy Utility Fund.