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Dutch merger

Dutch merger

Dutch energy and telecom and waste processing utilities PNEM/MEGA Groep and EDON have announced that they have agreed an outline merger and expect to sign a letter of intent in mid-February.

The two companies say that the move has been prompted by the liberalization of the European energy market.

The newly merged company would have a 30 per cent market share in the Dutch energy market with a turnover of NLG 8bn (euro3.6bn, $4.2bn).

The companies` activities in the energy market will be merged as soon as possible through the integration of EnTrade bv and Traedon bv.

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