EU approves acquisition of Montedison by Italenergia

Aug 29, 2001 02:00 AM

The acquisition of Montedison by Italenergia (JV between Fiat and EdF) for $ 4.5 bn was approved by EU antitrust authorities. Fiat is currently concentrating in the electric power sector in Brazil.
Italenergia will replace FiatAvio in the partnership the group has with the Brazilian state owned company Petrobras for the construction of thermal electric power plant Ibiritermo (Minas Gerais). The investments will be of $ 450 mm in a 50/50 basis and the facility will have an installed capacity of 669 MW.

Source: Gazeta Mercantil/SABI
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