Offshore wind developer Eneco is to be privatised via an auction to take place next year following agreement by its 53 municipal shareholders.
In a statement, the company said the management board, the shareholders and supervisory board of Eneco Group has arrived at the mutual decision following months of discussions.
Eneco shareholders voted in October 2017 to sell the company but attempts by the boards to float it on the stock exchange were rebuffed.
“Having weighed the pros and cons of the different privatisation options, both Eneco and the shareholders give preference to privatisation by means of controlled auction, because this best serves the interests of Eneco and its stakeholders,” the company said in a statement.
A preparatory phase of the privatisation now underway will be followed by a transaction phase, “the objective of which is to submit an eligible bid from a party, including conditions and commitments, to the 53 municipal shareholders for approval,” the statement added.
Chief executive Ruud Sondag said: “We are confident that by entering into a sales process we will find a new shareholder that is a good match with Eneco.”