Netherlands: Consortium to buy Eneco

On Thursday, July 18, Dutch lender Rabobank announced that it has formed a consortium with investment firm KKR seeking to buy utility Eneco, according to Reuters.

Eneco is owned by 53 Dutch cities which announced the sale of the company in May. Analysts estimate the company to be worth approximately US$3.4 billion.

“A collaboration with an organization such as Eneco that has a strong green profile fits very well with Rabobank’s ambition to serve as the primary banker of the energy transition,” Rabobank said in a statement. “This transaction should accelerate the energy transition in the Netherlands.”

Currently, other interested parties that have been named include a consortium set up by Royal Dutch Shell and Dutch pension fund manager PGGM, infrastructure fund Macquarie, and Japan’s Mitsubishi Corp. Last month, Italian Enel and France’s Total SA dropped out of the bidding.