EdF begins talks to up SPE stake to 49%

Resumen de Prensa            Enervía, martes, 20 mayo 2003

FUENTE: Platts


Electricite de France and Belgium's SPE are to begin talks that should result in EdF increasing its stake in the Belgium company to 49% by the end of the year, a spokesman for SPE said Monday. "There are now no obstacles. It is not a question of if but when. The aim is to finalize the agreement by the end of the year," he said. EdF agreed to buy a maximum 49% share of the Belgium company in 2001 when it brought a 1O% share of SPE. But this was on condition that SPE ended its industrial agreement with Electrabel. "This condition was met on April 25 this year when the government ratified the split. There are still some details to be discussed but these should be finalized by end- June," the spokesman explained. EdF Monday remained cautious over the deal. SPE will have 10% of the production capacity in Belgium but will still be unable to rival market leader Electrabel. The company aims to increase its market share to 15% in the next few years. SPE shareholders want to keep control of SPE. That's why the agreement with EdF is for a maximum 49% share, SPE's spokesman said. EdF's spokesman made
no clear comments but said "For the moment we cannot make any comment because the negotiations have not
started."