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Shell faces struggle over €3bn Eneco deal

The Sunday Telegraph understands that Shell is facing internal divisions over the deal and mounting political opposition.

Royal Dutch Shell has struck a stumbling block in its march into the European power sector over plans to pluck a Dutch utility from public ownership.

The Anglo-Dutch oil major is a front-runner in the €3bn (£2.64bn) race to snap up Eneco from the hands of 53 Dutch municipalities after the decision to privatise the green energy company. 

The group already partners with Eneco on wind power projects in Europe, which could pave the way for its next step into the power market after buying UK energy supplier First Utility for a rumoured £200m.

But The Sunday Telegraph understands that Shell is facing internal divisions over the deal and mounting political opposition.

“The process has been stumbling on for a while but it’s like herding cats with all the stakeholders,” said one City source with knowledge of the deal.

Eneco’s shareholders have been forced to bring in a mediator to prevent the sale from descending into chaos as municipalities clash on whether to sell their stakes in the utility, and how to safeguard its green credentials.

Others rumoured to be in line for the sale include Finland’s Fortum, French energy giant Engie and private equity investor CVC. Shell declined to comment.

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1 Comment on “Shell faces struggle over €3bn Eneco deal”

  1. #1 Hannah
    on Feb 7th, 2018 at 08:13

    “The process has been stumbling on for a while but it’s like herding cats with all the stakeholders” – seems like the situation is really “interesting”… But I hope Shell will make it through, as awlays 🙂

    Hannah from https://www.bizset.com/

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