Eni and Nuon, agreement in Belgium

Italy’s largest energy company, Eni, will buy Nuon Belgium NV, serving approximately 550.000 electricity and gas connections, and its subsidiary Nuon Wind Belgium NV and Nuon Power Generation Walloon NV. The agreement has been reached yesterday between the Italian company and  N.V. Nuon Energy, a subsidiary of Vattenfall AB. The operation is estimated at some 157 million euros  on an Enterprise Value basis.

The transaction is now due to be examined and eventually approved and made definitive by the European Competition Commissioner.

Established in August 2002 at the onset of the liberalization of the Belgian energy market, Nuon Belgium currently serves around 550.000 electricity and gas connection points employing approximately 150 people. It also holds 4.5 MW renewable energy capacity through its subsidiary Nuon Wind Belgium. Nuon Power Generation Walloon represents a CCGT (Combined Cycle Gas Turbine) power generation project near Seneffe in an advanced stage of development.



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