This Web makes use of first-party and third-party cookies with analytic purposes about its activity and which are installed when navigating through the Website. If you keep navigating in it you accept the use which we make of them. If you wish, you may change your preferences in the browser.


Accept cookies Chage its configuration
Gobierno de España - Ministerio de Hacienda y Función Pública
Te encuentras en: Home»Companies»Companies with a Minority Interest»

RED ELÉCTRICA CORPORACIÓN

RED ELÉCTRICA CORPORACIÓN

Participation SEPI:20% a 31/12/2016
Sector:Energy
Registered office:Paseo Conde de los Gaitanes, 177 La Moraleja, 28109, Alcobendas (Madrid)
Tel: 00 34 91 650 45 42
Fax: 00 34 91 650 45 42
MORE INFORMATION

INFORMATION ABOUT RED ELÉCTRICA CORPORACIÓN

The Board of Directors of the state-owned holding company Sociedad Estatal de Participaciones Industriales (SEPI) agreed, in the extraordinary meeting which it celebrated on 28th of September 2005, to sell 11,497,950 shares it owns in Red Eléctrica Corporación, S.A., and which represent 8.5% of this company´s capital. The procedure chosen for carrying out this sale has been the ´Bought Deal´. Once the sale has been completed, SEPI will maintain its presence in the shareholding structure of the electricity company, with a 20% stake.

The Board also agreed to award this sale to UBS, since it submitted the best financial offer among the different financial entities, and which were ranked for the deal by the Board itself on July 22nd, 2005. As a result of the financial offer selected, the sale price for each of the shares is, before fees, of 23.05 Euros, which represents a total amount of 265,027,747.5 Euros.

On July 29th, 2005 the Council of Ministers authorized SEPI to sell shares equivalent to 5% of the capital of Red Eléctrica, while the authorization regarding the remaining 3.5% was already given on May 21st, 1999, since this percentage was the ´green-shoe´ call option which was not implemented in the Initial Public Offering of shares (IPO) carried out on July of that year.

The procedure for the sale of the 8.5% has also the favorable report by the Consejo Consultivo de Privatizaciones (Consultative Board of Privatizations), which was submitted on July of this year, and which highlights that the deal meets the principles of publicity, transparency and competition. The company Analistas Financieros Internacionales has taken part in the sale process as SEPI´s advisor.

As a result of that stipulated by Act 54/1997, on November 27th, 1997 concerning the Regulation of the Electricity Industry, amended by Act 53/2002 concerning Tax, Administrative and Social Measures, the state-owned holding company Sociedad Estatal de Participaciones Industriales will keep, at any rate, a shareholding participation of at least 10% into the capital of Red Eléctrica de España, Sociedad Anónima.

Logotipo ecológico

Antes de imprimir este documento asegúrate de que es necesario. Proteger el medio ambiente está también en tu mano.

Get to know SEPI
SEPI commitment
Companies
Privatizations
Press Room
Marca España web page offers news related to Spanish activity both within our borders and abroadThe Spanish Economy website provides access to the latest key economic information on Spain in english.Dependence FoundCrónica Gráfica
© SEPI - Velázquez, 134. 28006 Madrid. España Tel.: +34 91 396 10 00 Fax: + 34 91 396 15 60 -Legal Warning - Accessibility - Cookies Usage
CSS Válido!
Valid HTML 4.01 Transitional
Icono de conformidad con el Nivel A, de las Directrices de Accesibilidad para el Contenido Web 1.0 del W3C-WAI
Desarrollado por
Empresa de consultoría, tecnología e innovación