German firm tipped to take over Essent

The German energy concern RWE is the most serious contender to take over the Netherlands’ biggest gas and electricity utility, Essent, reports Thursday’s Financieele Dagblad.

Essent is to ask its local government shareholders and its supervisory board to allow RWE to examine its financial accounts, says the paper, quoting sources “close to takeover talks”.
If permission is granted, RWE will be in exclusive talks with Essent. At present a consortium consisting of the Swedish firm Vattenfall, Denmark’s Dong and Italy’s ENI are also in the race to acquire Essent. However sources claim that the Dutch firm has a preference for RWE, the paper says.
Essent was prepared only to confirm that it is in talks with several parties. A meeting with its supervisory board is planned for Monday followed by a meeting with its shareholders on Tuesday.

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