Vattenfall to buy Nuon's production & supply business
Swedish energy company Vattenfall has made an all cash offer of €8.5 billion for 100% of the shares of Dutch company Nuon's production & supply business. Nuon's grid company is not involved in the transaction.
Both companies have agreed that Vattenfall will acquire 49% of the shares initially and have operational control, with the remaining 51% will be acquired over the next six years.
"The partnership also enables us to further implement our strategy towards a leading position in the European energy market and enhance our position in gas," says Lars Josefsson, chief executive of Vattenfall. "The Benelux market is highly complementary to our existing European activities and our combined strengths make
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