July 7, 2017 / 3:34 PM / 5 months ago

Energy company Eneco closer to sale or IPO

AMSTERDAM, July 7 (Reuters) - The city government of The Hague on Friday said it wishes to sell its 16.6 percent stake in Dutch energy company Eneco, bringing a sale or initial public offering of shares in the company a step closer.

An external review published together with a statement by the city said Eneco, owned by 53 municipalities, has annual operating profit of about 400 million euros ($456 million) and is worth roughly 2.7 billion euros.

Eneco’s future is uncertain after the company fought and lost a decade long battle opposing a Dutch government decision to split grid operators from electricity generators. (Reporting by Toby Sterling; Editing by Elaine Hardcastle)

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