Press information
EU approval for RWE’s acquisition of Essent
23 June 2009 - RWE AG received approval from the European Commission for the acquisition of the Dutch energy utility Essent N.V.. This approval does not include conditions that would specifically affect the Dutch market.
Majority of Essent shareholders intend to sell shares
13 May 2009 - Over the course of the last few days, a majority of Essent shareholders have expressed their intention to sell their shares to RWE (56 % of the total Essent shares).
Essent and RWE sign Sustainability Agreement
12 May 2009 - Essent and RWE have entered into a binding agreement for investments into sustainable power generation in the Netherlands. This agreement and the related Development Plan serve to reconfirm RWE's intended investments in the Netherlands. From 2009 to 2013, several billion euros will be invested.
Essent and RWE announce intended Executive Board new organisation
17 March 2009 - After conclusion of the partnership, as Essent agreed with RWE, the new Essent organisation will be led by an Executive Board consisting of four members.
RWE and Essent sign offer agreement
20 February 2009 - RWE AG and Essent N.V., the Arnhem-based leading Dutch utility, have today reached another milestone on their way to completing the companies’ proposed partnership. Following receipt of positive advice from the Essent Central Works Council, which was a requirement under Dutch law, RWE and Essent have now formally signed the offer agreement. In the agreement, RWE makes a binding all-cash offer to the shareholders of Essent for the acquisition of all the issued and outstanding shares of Essent.
RWE partnering with Essent
12 January 2009 – a great day for RWE. After tough competition, Essent has chosen RWE as the preferred bidder. That’s a compelling transaction for all. This new alliance with a company of major expertise and a major reputation will help to secure the energy supply of the Netherlands. Essent gets access to our pan-European network – whether for sourcing, procurement or engineering. We’re strongly committed to the Dutch market and to continuous investment which brings considerable momentum for the local economy and for jobs.
