RWE: Dutch Province N Brabant Officially Approved Essent Bid
27 May 2009 - 9:41PM
Dow Jones News
RWE AG (RWE.XE) said Wednesday the Dutch province of North
Brabant, the largest single shareholder in Essent NV, has offically
accepted the German utility's offer for its Dutch peer.
A spokeswoman for Germany's largest power producer by generation
capacity said the approval by North Brabant raises the tender rate
to above 80% of Essent's outstanding equity capital, which was one
of the key conditions RWE has set for the offer.
In January, RWE announced its plan to acquire Essent for EUR9.3
billion, which includes around EUR1.1 billion in debt.
Company Web site: www.rwe.com
-By Jan Hromadko, Dow Jones Newswires; +49 69 29 725 503;
jan.hromadko@dowjones.com
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