ACCIONA considers 'extremely positive' the National Energy Commission's (Comisión Nacional de la Energía - CNE) decision to allow it to increase its shareholding in Endesa up to 24,9 percent, as well as the fact that the decision was taken unanimously.

The CNE's Board of Directors has authorised Finanzas Dos, S.A., a company controlled by ACCIONA, to increase its participation in Endesa up to 24,9 percent, although it has established a series of conditions, among them, that this percentage does not imply control, neither "exclusive" nor "joint", of the management of the power company, which would require carrying out a new authorisation procedure with the CNE.

Furthermore, ACCIONA shall have to report to the power regulatory board every quarter regarding its shareholding in Endesa and the "degree of influence" said participation confers, as well as regarding its presence in the governing bodies of the power company.

These conditions imposed by the CNE will not prevent ACCIONA from exercising the influence that corresponds to its role as key shareholder in Endesa, in terms of its participation in the management of the company.

The CNE's decision consolidates ACCIONA's position as Endesa's major shareholder, providing more stability for the shareholders. Since ACCIONA became a shareholder of Endesa, the value of the latter's shares have increased considerably and it is anticipated that they will continue to do so in the future.