Belgium: Eni Completes Nuon Acquisition

Italian energy company Eni has completed the planned acquisition of Belgian gas company Nuon Belgium NV and Nuon Power Generation Walloon NV. The acquisition is completed following approval from the European Commission last month.

Eni acquires the gas company from previous owner, Vattenfall, who says that the sale will help the company to focus more on its operations in the Netherlands, Sweden and Germany.

"The completion of this sale is another important step in implementing Vattenfall's new strategic direction, focusing on the three core markets Sweden, Germany and the Netherlands as well as on certain strategic projects in other countries," a statement from the company said.

Nuon Belgium is one of Belgium's largest energy companies, supplying gas and electricity to approximately 550,000 connection points, both residential and commercial, countrywide.

"Belgian families and small to medium-sized enterprises will benefit from Eni’s entry in the retail gas and electricity market," a statement from Eni said. "Eni will reinforce the position of Nuon Belgium and expand its commercial services by improving the quality and competitiveness of its products, thanks to the solid knowledge and experience it has gained through serving more than 8 million customers throughout Europe."

The purchase furthers Eni's current gas interest in the country, complementing its 2008 acquisition of Distrigas, the largest commercial gas supplier in Belgium.