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RWE To Invest Over EUR3 Billion In Netherlands In 2009-2013

AMSTERDAM (DOW JONES)--German utility RWE AG (RWE.XE) said Tuesday it plans to invest more than EUR3 billion in clean energy in the Netherlands, in an effort which should convince a key shareholder to vote in favor of RWE's planned takeover of Dutch utility Essent NV. In a joint statement, RWE and Essent said between 2009 and 2013, RWE plans to invest more than EUR3 billion in the Netherlands, mainly in clean energy facilities. The companies also said they reached a "sustainability pact" which should guarantee the execution of these investments. RWE is set to take over Essent in a EUR9.3 billion deal which would be one of Europe's largest takeovers this year. However, the government of the Dutch North-Brabant province, which owns just under 31% of non-listed Essent, recently said it would delay its final decision on the takeover after the provincial parliament recommended the government shouldn't accept RWE's offer. The parliament said RWE's policy towards clean energy was insufficient and therefore demanded more harder guarantees on the matter before a takeover could take place. North-Brabant's approval is crucial to the completion of the deal, since a key condition for RWE's offer is a tender rate of at least 80%. Given the size of North-Brabant's stake, a rejection of the offer could derail the takeover. -By Maarten van Tartwijk, Dow Jones Newswires; +31 20 571 5201;

Stock News for Essex Property (ESS)
07/01/201416:22:11Essex Announces Release and Conference Call Dates for Its 2014...
06/11/201416:01:00Essex Announces Its 20th Consecutive Annual Dividend Increase
05/29/201416:48:56Essex Property Trust to Present at 2014 NAREIT Investor Forum
05/07/201416:21:01Essex Announces First Quarter 2014 Results
05/06/201409:00:00Essex Property Trust Announces Conversion of 4.875% Series G...
05/02/201416:08:23Essex Property Trust Announces Tax Status of BRE Properties...
04/15/201408:00:0030-Year Ultra Long Gilt Futures Updates, Partnerships, Notes...
04/09/201409:30:01Essex Prices Notes to Boost Liquidity - Analyst Blog
04/08/201416:01:00Essex Property Trust Prices $400 Million Senior Unsecured Notes...
04/02/201417:00:00Essex Announces Dates for Its 2014 Annual Meeting and First Quarter...
04/02/201416:01:00Essex Property Trust Announces Expiration & Final Results for...
04/02/201408:00:00Appointments, Mergers, and Announcements by Financial Companies...
04/01/201416:05:00Essex Property Trust, Inc. and BRE Properties Complete $16.2...
04/01/201416:01:00Essex Property Trust, Inc. and BRE Properties Complete $16.2...

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