Owners, Board of Dutch Energy Company Eneco Agree on Sale Conditions

The municipal shareholders and supervisory board of Dutch energy company Eneco have reached an agreement on the conditions under which the company may be sold, according to a joint statement published on Friday.

Eneco's owners - a group of 53 cities with Rotterdam holding the largest stake - had been demanding a sale of the company, which is valued at around 4 billion euros ($5 billion), but its boards had sought an IPO or partial sale that would ensure its continuity as a renewables-oriented firm.

Reporting by Toby Sterling