Vattenfall completes sale of its Belgian businesses

Vattenfall has legally completed its sale of Nuon Belgium NV and Nuon Power Generation Walloon NV in Belgium to ENI.

As reported here before Christmas Vattenfall had come to agreement with the Italian oil and gas company but were awaiting final European Commission approval.

The sales agreement with ENI was signed in July 2011 for approximately EUR 157 million ($202m) on an enterprise value basis. The sale to ENI covers all of Vattenfall’s operations in Belgium.

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.

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