for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

Japan's Mitsubishi, Chubu Elec completes $4.5 billion purchase of Eneco

TOKYO (Reuters) - Japanese trading house Mitsubishi Corp 8058.T and Chubu Electric Power 9502.T said on Wednesday that they have completed a 4.1 billion euro ($4.5 billion) acquisition of Dutch energy firm Eneco on March 24.

In November, the Japanese companies were selected as the preferred buyers in a bid for the Dutch company, beating rival bids from Shell RDSa.L and private equity firm KKR KKR.N.

Eneco was owned by 44 Dutch municipalities and had a focus on renewable energy.

By taking advantage of Eneco’s technological expertise and experience in renewable energies, Mitsubishi plans to accelerate its renewable developments in Europe and elsewhere, while Chubu aims to create synergies in its energy operations both in Japan and around the world, they said in a statement.

Reporting by Yuka Obayashi, editing by Louise Heavens

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up