Nuon shareholders back sale to Vattenfall

Over 90% of Nuon’s local authority shareholders have backed the sale of the Dutch energy firm to Sweden’s state-owned Vattenfall.

The vote took place at a shareholders’ meeting on Thursday.
A majority also voted in favour of dividing Nuon into a production and delivery company and a network operator. The network arm – Alliander – will remain in the control of the current shareholders.
Nuon announced plans to sell itself to Vattenfall in February for €8.5bn. The Swedish firm, which is 100% government owned, will first take a 49% stake in the second-biggest Dutch energy company but will expand its interest to full ownership over six years.
In total, Vattenfall is bidding €8.5bn for the Dutch firm.

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