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BULLETIN: France-Based Bouygues to Buy Out E.ON Stake in Telecom Unit Jan 03
Standard & Poors, January 2003
PARIS (Standard & Poor's) Jan. 17, 2003--Standard & Poor's Ratings Services said today that the announcement by France-based conglomerate Bouygues S.A. (A-/Stable/A-2) of an agreement to buy out E.ON AG's 15.9% stake in Bouygues Telecom S.A. will have no impact on the corporate credit ratings on Bouygues. The transaction will include an initial cash payment of -394 million in March 2003. The remaining roughly -760 million will not be cashed out until two years later through an option exercisable at year-end 2005, under which Bouygues will enjoy a call option and E.ON a put option. This transaction follows closely on the -619 million cash outlay by Bouygues on Dec. 2, 2002, linked to the purchase of a Universal Mobile Telephone...
Companies mentioned in this report are: Bouygues S.A.,E.ON AG
Action: S&P Event
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Research type: News
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Bouygues S.A.,E.ON AG