FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Report of Foreign Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For the month of May, 2005
Commission File Number: 333-07654
ENDESA, S.A.
(Translation of Registrant's Name into English)
Ribera del Loira, 60
28042 Madrid, Spain
(Address of principal executive office)
Indicate by check mark whether the registrant
files or will file annual reports under
cover of Form 20-F or Form 40-F:
Form 20-F |X| Form 40-F |_|
Indicate by check mark if the registrant is
submitting the Form 6-K in paper as
permitted by Regulation S-T Rule
101(b)(1):
Yes |_| No |X|
Indicate by check mark if the registrant is
submitting the Form 6-K in paper as
permitted by Regulation S-T Rule
101(b)(7):
Yes |_| No |X|
Indicate by check mark whether by furnishing
the information contained in this Form, the Registrant is
also thereby furnishing the information to the Commission pursuant
to Rule 12g3-2(b) under the Securities Exchange Act of 1934:
Yes |_| No |X|
If "Yes" is marked, indicate below the file number assigned to the registrant
in connection with Rule 12g3-2(b): N/A
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ENDESA Restructures Its Brazilian Shareholdings
MADRID, Spain--(BUSINESS WIRE)--May 25, 2005--The Board of
Directors of ENDESA INTERNACIONAL, a subsidiary wholly-owned by
ENDESA, S.A. (NYSE:ELE), has resolved to restructure its Brazilian
shareholdings.
To this end, it has started the process of incorporating a limited
liability holding company registered in Brazil, called ENDESA BRASIL,
S.A., to which it will contribute the shares it holds directly in
subsidiaries domiciled in this country, as well as the Brazilian
shareholdings of ENERSIS, S.A., which in turn is controlled by ENDESA
INTERNACIONAL.
Once its Chilean subsidiaries, ENDESA CHILE and CHILECTRA, S.A.,
both subsidiaries of ENERSIS, S.A., join the process, the definitive
holding company shareholder composition will look something like this:
A) ENDESA INTERNACIONAL: 23.7%
B) ENERSIS, S.A.: 23.5%
C) ENDESA CHILE: 33.6%
D) CHILECTRA, S.A.: 19.2%
As a result, ENDESA's consolidated stake in the holding company
now being created would be 61%, giving it control.
The holding company's capital will total around 3.575 billion
Brazilian reals, equivalent to approximately USD 1.35 billion, an
amount which corresponds to the book value as of 31 December 2004,
according to Brazilian accounting principals, of the outstanding
shares of the Brazilian subsidiaries which are held directly or
indirectly by the contributing subsidiaries.
This corporate restructuring will simplify the shareholder
structure of the Company's Brazilian investments, enhance the
stability of local cash flows, improve access to external financing,
boost the group's positioning for development in the local market and
facilitate operating synergies.
* This document may contain certain forward-looking statements
regarding anticipated financial and operating results and statistics
that are subject to risks and uncertainties as well as to material
risks, changes and other factors which may be difficult to predict,
including, without limitation, those factors described in the Folleto
Informativo Continuado of Endesa filed within the Comision Nacional
del Mercado de Valores and in the Form 20-F of Endesa filed within the
Securities and Exchange Commission, both for the fiscal year ended
December 31, 2003. For all of these forward-looking statements, we
claim the protection of the safe harbor for forward-looking statements
contained in the Private Securities Litigation Reform Act of 1995.
For additional information please contact David Raya, North
America Investor Relations Office, telephone # 212 750 7200
http://www.endesa.es
CONTACT: For ENDESA
North America Investor Relations Office
David Raya, 212-750-7200
http://www.endesa.es
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
ENDESA, S.A.
Dated: May 25th, 2005 By: /s/ David Raya
----------------------------
Name: David Raya
Title: Manager of North America Investor Relations