Mitsubishi-led consortium to scoop up European energy major Eneco in €4.1bn deal
Nov 26, 2019 07:10 PM ET
- A consortium featuring Mitsubishi and Japanese utility Chubu is set to buy out European energy major Eneco as Mitsubishi targets further European growth.
The shareholders' committee, Eneco and the consortium have reached an agreement on the proposed sale of all shares in Eneco.
In sealing the deal, the Mitsubishi-led consortium has fended off fierce interest from other would-be suitors including O&G major and Eneco compatriot Shell.
The €4.1 billion (US$4.51 billion) deal will see Mitsubishi take an 80% stake in the company with Chubu holding the remaining 20%, pending regulatory approval of the transaction.
Also read
- China Calls for End to Solar Price Wars
- AEMO Sees 229 TWh Renewables By 2035, Rooftop Solar Surges
- Foresight’s ARIF Secures AU$700 Million To Refinance Clean Portfolio Growth
- Germany Adds One-Point-Four Gigawatts Of Solar Capacity In July Surge
- SolAmerica Secures $100M to Boost Community Solar Expansion
