Endesa Will Not Acquire the Dutch Distributors NRE and REMU.Business Editors Endesa (NYSE NYSE See: New York Stock Exchange :ELE ELE equine leukoencephalomalacia. ) has reached a preliminary agreement with NRE (Non-Recurring Engineering) Refers to the cost of creating a new product, which is paid up front. Contrast with "production cost," which is ongoing and based on the quantity of material produced. shareholders to put an end to to destroy. - Fuller. See also: End the negotiations to adapt the year 2000 purchase agreement, to the new regulation on the Dutch electricity industry that was enacted after the mentioned purchase agreement was reached. As a result of the above, the agreed acquisition of NRE by Endesa will not be effected. As for REMU REMU Remote Environmental Monitoring Unit REMU Remote Environmental Measuring Unit , on June 25th its shareholders have notified Endesa that they consider themselves no longer bound by the purchase agreement of the company. This means that this transaction will not be carried out either. Endesa has not made any disbursements directly related to the above acquisitions. In the year 2000, Endesa agreed to acquire the Dutch municipality-owned companies REMU and NRE. These companies distribute and supply gas, electricity and steam for urban heating in the respective areas of Utrecht and Eindhoven. The completion of the above transactions was subject, among others, to the approval from the Dutch Ministry of Economic Affairs The following nations have a Ministry of Economic Affairs:
On the other hand, and following the above purchase agreements, changes were made to the Dutch regulation on the electricity industry, which made the completion of the transactions under the initially agreed terms to become considerably more difficult. The parties have striven to renegotiate the above acquisitions in light of the changes in the regulation, although eventually no agreement was reached within the period that was established. The above circumstances have definitely made both transactions unfeasible. For additional information please contact Jacinto Pariente, North America Investor Relations Investor relations The process by which the corporation communicates with its investors. Office 212/750-7200. jpariente@endesa.es --30--bw/ny* csm
CONTACT: Endesa, New York
North America Investor Relations Office
Jacinto Pariente, 212/750-7200
jpariente@endesa.es
KEYWORD: NEW YORK INTERNATIONAL EUROPE NETHERLANDS SPAIN
INDUSTRY KEYWORD: ENERGY OIL/GAS UTILITIES
SOURCE: Endesa
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