PZEM sells DELTA Network Group to Stedin Group
GOES/ROTTERDAM, March 31, 2017 – Provinciale Zeeuwse Energie Maatschappij N.V (“PZEM”) has reached agreement with Stedin Holding N.V. (“Stedin Group”) on the proposed sale of Zeeuwse Netwerkholding N.V., including all subsidiaries and participations, including De Netwerkgroep Infra B.V. (formerly Delta Infra B.V.) and the grid administrator Enduris B.V., together the DELTA NETWORK GROUP (“DNWG”). Conditional for the sale is approval by PZEM shareholders and the Authority for Consumers and Markets, and positive advice from PZEM’s central works council. The price Stedin will pay for 100% of the shares is around € 450 million. This amount is after deduction of debts and other adjustments of around € 160 million.
Emendo Capital acted as exclusive financial adviser to the shareholders of PZEM (formerly DELTA).
DNWG offers services in the field of technical infrastructure (electricity, gas and drinking water): from design and engineering to construction, management and maintenance. In addition, DNWG delivers services in the area of metering technology. DNWG takes care of the construction, maintenance and operations of the electricity and gas grid in Zeeland and services the water supply networks of Zeeland, Goeree-Overflakkee and Brabantse Wal. DNWG employs approx. 650 people.
For additional information on DNWG, visit dnwg.nl.
About PZEM (formerly DELTA)
PZEM activities are aimed at production, trade and delivery of energy products and –services on the B2B market. We proactively participate in the transition to a CO2 neutral energy supply. PZEM increases the guarantee of energy supply with flexible back-up capacity, in case wind and solar methods generate less energy than anticipated. DNWG is part of PZEM until the 1st of July. DELTA Network Group offers services in the field of technical infrastructure (electricity, gas, water and data) and metering technology.
For additional information on PZEM, visit pzem.nl.
About Stedin Group
Working together towards a world full of new energy. This is the goal that the approximately 4,500 employees of Stedin Group are striving to achieve every day. We believe that it is our responsibility to ensure that all our customers have access to the sustainable energy they need to live, work and conduct business. Stedin Group is increasing the sustainability and maintaining the robustness and affordability of the energy system. This is achieved through the combined efforts of grid operators Stedin (provinces of Zuid-Holland and Utrecht) and Enduris (province of Zeeland) and the experts of infrastructure companies Joulz and DNWG Infra.
For additional information on Stedin Group, visit stedingroep.nl.