RWE acquires Essent
The sale of the largest energy generator in the Netherlands, Essent, to German utility RWE was completed on September 30 in a €7.3 billion deal.
The deal holds further options to acquire the Netherlands-based Borssele nuclear power station for approximately €1 billion. The two parties plan to implement a large-scale advertising campaign to publicise the merger.
Before the merger, changes in legislation meant Essent was forced to unbundle its transmission and distribution networks and a merger with its Dutch competitor Nuon was prohibited by the Netherlands Competition Authority (NMa). Essent was left with the only option of auctioning
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