JP Morgan Chase advised Endesa on its Spanish disposal but faces competition from DrKW if it is to pull off a successful European acquisition for Spain's largest utility.

JP Morgan advised Endesa on the auction process of Nueva Viesgo, its electricity generation and distribution division and Spain's fifth largest power producer. The auction was won by Enel, the Italian energy company, which paid €2.15bn ($1.95bn) in cash and assumed debt. Merrill Lynch advised Enel.