CHARBONNAGES DE FRANCE CONFIRMS FORTHCOMING SALE OF 30% OF SNET TO ENDESA.

Europe Energy, December, 2000

The French company Charbonnages de France has confirmed that the Spanish electricity company Endesa is shortly to take a 30% stake in its Societe nationale d'electricite et de thermique (SNET) subsidiary. Economy and Finance Minister Laurent Fabius and Secretary of State for Industry Christian Pierret have welcomed the signing of a draft agreement to this end by Endesa and Charbonnages de France.

The proposal has still to be put to SNET staff representatives and approved by the Charbonnages de France Board before it becomes final.

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