Friesland to keep Nuon shares

The planned sale of the Provincial Council of Friesland’s 12.6% stake in Dutch energy group Nuon to the province of Noord-Holland has fallen through, the provinces said in statement. Noord-Holland holds 9.5% of Nuon, which is 100% in the hands of local and regional government.

Friesland had wanted to sell the shares for over €1bn because it felt it could not have enough influence over the energy company. An agreement in principle was signed in October on the understanding that both provincial councils backed the plan. There was particular opposition in Noord Holland, news agency ANP reported.

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