SCH sells 22.07 pct of Fenosa to ACS at €33 /shr, books €1.16 bln gain (ES)

Banco Santander Central Hispano SA said it has sold its 22.07 percent stake in Union Fenosa SA to Actividades de Construccion y Servicios SA for €2.21 bln or €33 per share.

SCH said it has booked €1.16 bln of capital gains from the operation. Shares in SCH, Fenosa and ACS continue to be suspended.

Fenosa last changed hands up €0.85 or 3.31 percent at 26.55, off a high of 27.02, while ACS fell €0.65 or 2.51 percent to 25.22. SCH put on 0.08 to 10.39.

Source: AFX News Limited 2005

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