EUROPEAN RESTRUCTURING
- From: Vol 5, Issue 4 (April 2004)
- Category: Need to know
- Region: Europe
- Country: Spain
- Related Companies: Acciona, Aguas Argentinas, Aguas de Barcelona, Endesa, FCC, Iberdrola, Ondagua, Pridesa, Suez, Thames Water and Veolia
Elsewhere within Thames, the company’s offices in Paris, Milan and Rome have been closed, as the company focuses on its US, UK, German and East European operations.
Observers of the restructuring have raised the question of Pridesa, the Spanish desalination specialist, and its sister company Ondagua.
Thames bought a 75% interest in the two companies from Iberdrola for €94.5 million in 2002. Iberdrola can exercise a put option to sell the remaining 25% at the end of this year.
Will Thames want to put more money ...
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