PGGM and Shell said that they have joined forces to explore the opportunity to participate in the controlled auction for the sustainable energy provider Eneco.

Among its businesses, Eneco operates as a retail energy supplier in several European markets. Its brands include an app-based supplier, and also offers smart home and EV services

In December 2018 Eneco and its shareholders’ committee announced the start of the privatisation process.

The consortium partners understand that Eneco will be brought to the market via a controlled auction, subject to shareholder approval. PGGM and Shell said that they realize this process is at an early stage and respect that it is up to the shareholders to determine the next steps in the sale process. The consortium looks forward to further assessing the potential opportunity and has shared an open letter further outlining its intent.

Tags:
M&A   Shell   Eneco  

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