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The shareholders' committee (consisting of several Dutch municipalities), Eneco and a consortium led by Mitsubishi Corporation have reached an agreement on the proposed sale of all shares in Eneco for a total equity value of € 4.1 billion. Mitsubishi Corporation (80%) and Chubu (20%) will fund the proposed transaction fully by using existing cash resources.
The consortium plans to expand the business of Eneco internationally. Eneco will become the European centre for all energy-related activities of Mitsubishi Corporation and Chubu. Mitsubishi Corporation plans to transfer part of its offshore wind activities (more than 400MW) to Eneco. Ruud Sondag will resign as CEO upon completion of the proposed transaction and will remain as senior adviser. He will be succeeded by a Dutch CEO. Eneco Chief Customer Officer Hans Peters and a representative of Mitsubishi Corporation (to be announced) will be added to the current board of management. The brands of Eneco, its corporate culture and corporate identity remain unchanged and also the employment and employment conditions remain unchanged. The head office of Eneco remains in Rotterdam, The Netherlands.
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