Start Sale Eneco Group
= This is a joint press release of Eneco and the shareholders' comittee =
The shareholders' committee, supervisory board and board of management of Eneco Group have arrived at the mutual decision to carry out the privatisation of Eneco by means of a controlled auction. The central works council has been consulted and made a positive recommendation on this matter.
Over the past months, the shareholders and Eneco have diligently examined the available options for privatisation (flotation, controlled auction, dual track) in consultation with their advisors. Criteria examined included anticipated proceeds, transaction certainty, continuation of the sustainable strategy and employment, naturally within the legal framework applying for privatisations. Having weighed the pros and cons of the different privatisation options, both Eneco and the shareholders give preference to privatisation by means of controlled auction, because this best serves the interests of Eneco and its stakeholders.
Together with its shareholders Eneco has made substantial progress with the finalisation of the preparations for privatisation. During this stage, agreements have been made with the central works council regarding the council's involvement in the sales process. This preparatory phase will be followed by a transaction phase, the objective of which is to submit an eligible bid from a party, including conditions and commitments, to Eneco's 53 municipal shareholders for approval.
Ruud Sondag, Chief Executive Officer of Eneco Group: "Over the past months, the board of management has collaborated with the shareholders, supervisory board and central works council in a constructive manner on laying a good foundation for the future. Today's important step in the privatisation of Eneco is the concrete result of this process. We are confident that by entering into a sales process we will find a new shareholder that is a good match with Eneco. I am pleased that we are united in shaping the future of this wonderful company."
Adriaan Visser, chairman of the shareholders' committee: "The shareholding municipalities are pleased that all parties involved are now truly ready to enter the process of selling Eneco and have reached agreement on how this will take place. This decision and the agreements made with regard to the further sales process are the result of diligent and combined efforts, taking into account the sustainable strategy and the other interests of all stakeholders. We will proceed in the same manner. Therefore, I am confident that this step will lead to a bright future for Eneco’.