ENI Sells Gas & Power Retail Operations in Belgium

Source Press Release
Company ENI S.p.A.Eneco 
Tags Corporate Deals, Deals, Power, Refining & Marketing Activities
Date March 31, 2017

Eni and Eneco have today signed  a sale and purchase agreement enabling   Eneco to acquire 100% of Eni gas & power NV/SA - and its subsidiary Eni Wind Belgium NV / SA - which comprises Eni’s gas & power retail operations in Belgium. The company currently serves approximately 850,000 electricity and gas connection points, supplying households and small and medium enterprises. The company has a market share of around 10% and employs approximately 200 staff.

The company was established in 2012 following the merger of Distrigas and Nuon Belgium, developing in-depth expertise of the gas and electricity sectors and expanding its customer basis by more than 30% through offering a variety of services.

The agreement has been reached following a competitive bidding process, the results of which confirmed the true value and upside potential of the company.

The agreement is in line with Eni’s overall disposal plan recently announced by the company in the 2017-2020 strategy presentation.

The transaction is subject to the clearance of regulatory authorities.

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