A Mitsubishi Corporation-led consortium has agreed to purchase Dutch energy company Eneco Holding N.V for €4.1 billion, Eneco announced on Monday.
According to Eneco's press release, Mitsubishi Corporation will fund 80% of the proposed transaction along with Chubu Electric who will fund the remaining 20% share using existing cash resources.
According to Enerco, Mitsubishi Corporation and Chubu are shareholders with a long-term perspective and are in full support of strengthening Eneco's sustainable strategy.
Mitsubishi Corporation plans to transfer part of its offshore wind activities of more than 400 megawatts to Eneco.
Eneco's headquarters will remain in Rotterdam in the Netherlands since Mitsubishi intends to make the location a center for all of its energy-related operations in Europe.
Ruud Sondag will resign as Eneco CEO to take the position of senior adviser and a Dutch CEO will succeed him.
Eneco Holding N.V is a producer and suppliers of natural gas, electricity and heat in the Netherlands, serving more than 2 million business and residential customers.
By Talha Yavuz