RWE cuts Essent purchase price

German energy giant RWE is to cut the price it is willing to pay for Dutch market leader Essent by €950m because of problems over the sale of Holland’s only nuclear power plant, the Financieele Dagblad reports on Thursday, without quoting sources.

RWE had agreed to buy Essent, including its 50% stake in the Borssele nuclear plant, for €9.3bn, including debts. But sector peer Delta, whichi s Essent’s partner in Borssele, refused to agree to the deal. In addition, Borssele’s statutes say it must remain in public hands.
Essent’s stake in Borssele will now be placed in a new company which will be owned by its current shareholders – local and provincial government, the paper says.

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