Acea SpA: Board approves €500 Million Bond issueand votes to seek arbitration in GDF SUEZ dispute
Rome 17 February 2010 – The Board of Directors of Acea SpA, chaired by Giancarlo Cremonesi, approved the issue of a €500 million 10-year bond to be placed entirely with institutional investors. The bond will be listed on the Irish or Luxembourg Stock Exchange.
The issue is intended to improve the balance between the Acea Group's short- and long-term debt.
Acea will announce details concerning the execution of the issue as soon as they are available.
During the course of the meeting, the Board of Directors also granted joint powers to the Chairman and the Chief Executive Officer to resolve the dispute with the GdF Suez Group by way of arbitration proceedings.