Japan's Mitsubishi beats Shell to buy Dutch power firm Eneco [Reuters]
MITSUBISHI CORP SPON (MSBHY)
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Source: Reuters
Japan's Mitsubishi beats Shell to buy Dutch power firm Eneco AMSTERDAM (Reuters) - A group led by Japan’s Mitsubishi Corp ( 8058.T ) will buy Eneco in a deal valuing the Dutch energy firm at 4.1 billion euros ($4.52 billion), Eneco said on Monday, beating off rival bidders including Shell and private equity firm KKR. Eneco, a company owned by 44 Dutch municipalities and with a strong focus on renewable energy, said it had been swayed by Mitsubishi’s plans to allow the company to continue its strategy and retain its corporate identity. The deal, backed by Eneco’s boards and a committee representing shareholders, must still be approved early next year by the Dutch company’s municipal investors. “The consortium made the best offer for shareholders and all other stakeholders of Eneco, including employees,” the Dutch company said in a statement. The Mitsubishi offer beat two other consortiums, one led by Shell ( RDSa.L ) with Dutch pension fund manager PGGM and another one that included
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