ACS
Actividades de Construcción y Servicios

Unión Fenosa is the third Spanish electrical company, highlighting its position as:

• The only energy company in Spain integrated within the gas and electricity sectors.
• It maintains a 13% share of the Spanish production market and 17% of the distribution market, mainly in Galicia and the central zone
• It operates on the domestic market and in 11 countries in Europe and South America.
  

Energy	Power installed	Production	Distribution*	Invoiced Gas**	Clients (´000)
Spain	8,865 MW	34,025 GWh	36,671 GWh	25,154 GWh	3,613
International	2,834 MW	15,058 GWh	22,345 GWh	12,390 GWh	5,486
Total	11,699 MW	49,083 GWh	59,016 GWh	37,544 GWh	9,099

^{(*) The distribution figures refer to energy supplied. Regulated Market (Integrated Tariff) and Free Market for Spanish and International Market.
(**) The gas figures correspond to Unión Fenosa's consolidation criteria (50% Unión Fenosa Gas)}


The ACS Group became the company’s main shareholder in September 2005 on acquiring 22.1% of the shares of the Santander Group, a stake that it has increased, reaching 40.5% of the shares. The total investment^(*) amounts to 4.151 billion euros, 75% of which was financed through a non-recourse credit facility that is backed up by the acquired packet of shares itself.

The ACS Group's strategy in Unión Fenosa is basically focused on:

• Using and sharing the knowledge of the electricity market which the Industrial Services area has developed over the course of more than 70 years of activity.
• Supporting the company in its domestic and international expansion, in both the gas and electricity sectors.
• Reinforcing the industrial nature of Unión Fenosa in its activities in the medium and long term.

^(*) Includes 1.005 billion euros of investment in order to acquire an additional 10% of Unión Fenosa, through the Takeover Bid that it completed in March 2006.