Eneco's stockholders seen approving possible sale - report

The chairman of Eneco’s shareholder committee expects a large majority of the cities that own the Dutch utility to decide to sell their interest, he told Reuters last week.

Eneco is owned by 53 municipalities, which need to decide on the matter by the end of October. Rotterdam, The Hague and Dordrecht together own about 57% of the shares and, according to the report, have decided in principle to sell.

Smaller cities would not like it if they are left in a minority position, committee chairman Adriaan Visser said, as cited by the news agency. He also expressed belief that the Dutch government is not going to ban a sale to a qualified foreign buyer. Reuters says the company is valued at about EUR 2.7 billion (USD 3.2bn).

The stockholders have already agreed that a suitable buyer would be one that has stable finances and is prepared to invest in further renewable energy assets, Visser has added.

Eneco's portfolio includes about 1,700 MW of available onshore and offshore wind power capacity, 142 MW of bioenergy and 76 MW of solar. Roughly 25% of its total supply comes from sustainable energy production, according to information on the company's website.

(EUR 1.0 = USD 1.176)

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