RNS Number : 4890B
  Suez Energy South America
  18 August 2008
   

    NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD VIOLATE THE
LAWS OF SUCH JURISDICTION

    18 August 2008

    RECOMMENDED CASH OFFER FOR ECONERGY INTERNATIONAL PLC ("ECONERGY") BY SESA BIDCO LTD ("BIDCO")

    Offer update

    On 13 June 2008, Suez Energy South America Participcoes Ltda. ("SESA") announced a cash offer of 45p per Econergy Share, to be made by
SESA or a subsidiary of SESA, for Econergy. The Offer Document was posted on 25 June 2008.

    On 29 July 2008, SESA announced that the Offer had become unconditional as to acceptances.  

    SESA announces that, except as stated below, all conditions of the Offer set out and referred to in Appendix 1 to the Offer Document
have been satisfied or waived. The Offer remains subject to conditions 1(b), 1(c) and 1(d) as set out in Appendix 1 to the Offer Document,
which relate to the receipt of consents from certain Brazilian public authorities and entities. BidCo understands that all documents
necessary for the approval process were submitted by 29 July 2008. The timetable within which the consents should be granted is up to 180
days from submission of all of the necessary documents but BidCo hopes that the process will be completed significantly more quickly than
this. BidCo will make further announcements in this regard as appropriate. Following a request from the Econergy Independent Directors and
its advisers, the Takeover Panel has consented to an extension to the time by which these conditions need to be satisfied.

    The Offer will remain open for acceptance until further notice. Econergy Shareholders who have not yet accepted the Offer are urged to
do so as soon as possible.

    Full details of how to accept the Offer in respect of Econergy Shares held in certificated and uncertificated form are set out in the
Offer Document and, in the case of Econergy Shares held in certificated form, the Form of Acceptance.

    Copies of the Offer Document, the Form of Acceptance and any related documents are available for collection from Capita Registrars,
Corporate Actions, The Registry, 34 Beckenham Road, Beckenham, Kent BR3 4TY during normal business hours on any business day.

    Terms defined in the Offer Document have the same meaning in this announcement.

    Enquiries:

    
 Dresdner Kleinwort(Financial adviser and broker to   Tel: +44 (0)20 7623 8000
 SESA and BidCo)
 Rosalind Hedley-Miller                                                       
 Ben Bailey                                                                   
                                                                              
 Brunswick Group(Financial PR adviser to SESA and     Tel: +44 (0)20 7404 5959
 BidCo)
 Andrew Garfield                                                              

    This announcement is not intended to and does not constitute or form part of an offer to sell or subscribe for or an invitation to
purchase or subscribe for any securities or the solicitation of any vote or approval in any jurisdiction pursuant to the Offer or otherwise,
nor shall there be any sale, issue or transfer of securities referred to in this announcement in any jurisdiction where to do so would be in
contravention of any applicable law. The Offer is being made solely by means of the Offer Document and, in the case of Econergy Shares held
in certificated form, the accompanying Form of Acceptance, which contains the full terms and conditions of the Offer, including details of
how the Offer may be accepted.

    The availability of the Offer to Econergy Shareholders who are not resident in and citizens of the Isle of Man or the United Kingdom may
be affected by the laws of the relevant jurisdictions in which they are located or of which they are citizens. Such persons should inform
themselves of, and observe, any applicable legal or regulatory requirements of their jurisdictions. The Offer is not to be made, directly or
indirectly, in, into or from any jurisdiction where to do so would violate the laws in that jurisdiction. Accordingly, copies of this
announcement and formal documentation relating to the Offer will not be, and must not be, mailed or otherwise forwarded, distributed or sent
in, into or from any jurisdiction where to do so would violate the laws and/or regulations in that jurisdiction unless otherwise determined
by BidCo and subject to any dispensation required by the Panel.

    Dresdner Kleinwort Limited, which is authorised and regulated by the Financial Services Authority, is acting for SESA and BidCo and for
no one else in connection with the Offer and will not be responsible to anyone other than SESA and BidCo for providing the protections
afforded to clients of Dresdner Kleinwort Limited or for affording advice in relation to the Offer or any other matters referred to in this
announcement.



This information is provided by RNS
The company news service from the London Stock Exchange
 
  END 
 
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