Stedin Holding €610 million acquisition of Zeeuwse Netwerkholding

Overview:

• Stedin Holding has agreed to purchase Zeeuwse Netwerkholding - with all subsidiaries including De Netwerkgroep Infra (formerly Delta Infra), Enduris and the Delta Network Group (DNWG) - from Provinciale Zeeuwse Energie Maatschappij (PZEM).
• The buyer will pay €450 million for the shares of the company, which is the value after the deduction of €160 million of debts and other adjustments.
• The two parties have reached an agreement but it remains to be voted on by PZEM's shareholders on June 12 2017.
• Morgan Stanley acted as financial adviser to PZEM on the matter, with ABN Amro advising Stedin.

Jon Moore - Journalist