Jumbo loan dissolves as E.On loses Endesa, Enel deal expected
German utility group E.On’s epic struggle to take over Endesa, the Spanish power company, ended in defeat this week, after rivals Enel of Italy and Spain’s Acciona spoilt its plans by amassing a 46% stake.
E.On will no longer need to draw last years record-breaking Eu37.5bn syndicated loan, meaning the arranging banks will lose out on most of the fees they stood to make.
The worlds biggest syndicated loan was arranged by BNP Paribas, Citigroup, Deutsche Bank, HSBC, JP Morgan and the Royal Bank
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