Mitsubishi Corporation Chubu Electric Power Preferential negotiation right to acquire Dutch energy company November 25, 20:55
Major trading companies Mitsubishi Corporation and Chubu Electric Power announced that they have acquired the right to negotiate for the joint acquisition of a Dutch company with an energy business in Europe. We are investing about 500 billion yen in Japanese yen and aim to acquire it by next summer.
According to the announcement, Mitsubishi Corporation and Chubu Electric Power have acquired the right to negotiate in order to jointly acquire the Dutch company “Eneko”, which is engaged in power generation business in Europe.
Eneko is a comprehensive energy company headquartered in Rotterdam, the Netherlands, and is engaged in power generation business such as renewable energy and retail business of electricity and gas, mainly in the Netherlands, Belgium and Germany.
A new company jointly established by Mitsubishi Corporation and Chubu Electric Power will purchase all the shares of Eneko, and the acquisition amount will be up to 4.1 billion euros (approximately 500 billion yen in Japanese yen).
With this acquisition, MC wants to further strengthen its renewable energy business, especially in Europe.
On the other hand, Chubu Electric Power intends to increase overseas earnings and to incorporate advanced European power business know-how into Japanese business.
In the future, the two companies are pursuing necessary procedures, such as obtaining approval from the local municipality, which is a shareholder of Eneko, and intend to acquire it by next summer.