September 7, 2017 / 11:20 AM / a year ago

Dutch minister says Eneco stakeholders must decide whether to sell shares

AMSTERDAM, Sept 7 (Reuters) - Dutch economic affairs minister Henk Kamp said it was up to the shareholders of energy company Eneco NV whether they wished to sell their shares and on what terms.

In a letter to lawmakers who had questioned whether the company shouldn’t remain in public hands, Kamp noted that the government had already ordered Eneco to split into a grid company, Stedin, which will stay government-owned and a generation company, Eneco, which can be privatised.

Eneco is owned by 53 municipalities which are due to decide by the end of October whether they intend to hold or sell their shares. To date, around two thirds of the cities have said they intend to sell, despite pleas by the company and labour unions to keep Eneco in Dutch hands, possibly via an initial public offering of shares. (Reporting by Toby Sterling; Editing by Susan Fenton)

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