Jun 17, 2009 | Amsterdam Nuon shareholders vote for sale to Vattenfall
At today’s extraordinary shareholders’ meeting, a large majority of over 90 per cent of n.v. Nuon shareholders voted for the sale of their shares in Nuon’s production and supply company to Vattenfall. The majority of the meeting also agreed to the statutory unbundling of n.v. Nuon into a production and supply company (N.V. Nuon Energy) and a network company (Alliander N.V.). The Alliander shares remain in the hands of the current shareholders.
Commenting on the shareholders’ decision, Nuon CEO Øystein Løseth says: "We greatly appreciate our shareholders’ confidence in our strategic partner Vattenfall. We can look back on a fruitful process in which we worked intensively with our supervisory board, shareholders and works council to find a strategic partner and to draw up criteria for this partner. Today the shareholders have made a major step towards the future, both for the production and supply company that is merging with Vattenfall and for the network company Alliander that will remain in the hands of the public shareholders. Our partnership with Vattenfall enables us to live up to our ambitions to ensure security of supply and renewable energy."
The first transfer of shares will take place on 1 July 2009, subject to clearance from the European competition authority. The sale of shares to Vattenfall will take place in phases. First an initial tranche of 49 percent will be sold. The remaining stake will then be transferred in phases, ultimately leading to Vattenfall obtaining 100 percent of the shares after six years. The step-by-step transfer of shares underlines the joint commitment of Nuon’s shareholders and Vattenfall to secure the public interests and Nuon’s Dutch identity. A foundation has been set up to monitor and safeguard the public assurances.
New Supervisory Board for Alliander and Nuon
Nuon production and supply company will form part of Vattenfall and retains its own Supervisory Board. In it's new composition this Supervisory Board consists of the following persons: Mr L.G. Josefsson (chairman), Mr J.H. Schraven, Mr D. J. Haank, Mr P. Bouw, Ms L.M.T. Boeren, Mr D. Andresen, Mr T. Hatakka and Mr P.W.A. Goes.
Alliander will also have its own Supervisory Board. The meeting appointed the following new members: Mr E.M. d’Hondt, Mr J.C. van Winkelen, Mr F.C.W.Briët, Ms A.P.M. van der Veer-Vergeer, Mr G. Ybema and Ms J.B. Irik.
During the meeting it was also announced that Mr P.C. Molengraaf, the current chairman of the board of the network company, will become the new chairman of the board of Alliander.
CEO Øystein Løseth concluded the meeting with words of gratitude to the shareholders and the Supervisory Board for their support and commitment during the constructive cooperation in the past period.
About Nuon
Nuon is an ambitious energy company, serving more than three million consumers and organisations with over 10,000 employees in the Netherlands, Belgium and Germany. Nuon produces, transports and delivers electricity, gas, heating and cooling, and engages in energy trading in the major international markets. Nuon also supplies additional services and technological innovations to businesses and consumers. In doing so, Nuon aims to provide a reliable, sustainable and affordable energy supply.
With a turnover of EUR 6.1 billion in 2008, Nuon occupies a prominent position in the Dutch energy market. The shares are held by local and regional authorities.
Effective 1 July 2008, Nuon was split into a network company and a production and supply company. The two companies now operate independently under a financial holding company and a joint Board of Directors and Supervisory Board.