Japan's Mitsubishi, Chubu Elec completes $4.5 bln purchase of Eneco

Eneco Energy

25/03/2020 11:12

TOKYO, March 25 (Reuters) - Japanese trading house
Mitsubishi Corp  8058.T  and Chubu Electric Power  9502.T   said
on Wednesday that they have completed a 4.1 billion euro ($4.5
billion) acquisition of Dutch energy firm Eneco on March 24.
    In November, the Japanese companies were selected as the
preferred buyers in a bid for the Dutch company, beating rival
bids from Shell  RDSa.L  and private equity firm KKR  KKR.N .
 urn:newsml:reuters.com:*:nL8N2851FZ
    Eneco was owned by 44 Dutch municipalities and had a focus
on renewable energy.
    By taking advantage of Eneco's technological expertise and
experience in renewable energies, Mitsubishi plans to accelerate
its renewable developments in Europe and elsewhere, while Chubu
aims to create synergies in its energy operations both in Japan
and around the world, they said in a statement.
($1 = 0.9223 euros)

 (Reporting by Yuka Obayashi, editing by Louise Heavens)
 ((Yuka.Obayashi@thomsonreuters.com; +813-4563-2761;))