Endesa consolidates domestic position

Spanish utility Endesa is to buy out minority shareholders in some of its subsidiaries as part of a Pta374bn ($2.67bn) re- organization plan designed to cement its position in the liberalising market.

The utility will raise its capital by 11.2 per cent and buy out minority shareholders in regional utilities Sevillana, Fecsa, Enher, Erz, Gesa, Unelco, Viesgo and Saltos de Nansa. The move will boost the company`s results and put it in a better position for the competitive market by reducing costs.