The Dutch Ministry of Economy approved Tuesday the unbundling plan for utility Essent NV, clearing the way for a takeover by German RWE AG (RWE.XE).

The government approval means Essent will be split into a power network unit and a production and supply company.

The unbundling is crucial for German utility RWE's planned takeover of Essent as the Dutch law requires that power networks remain in the hands of public authorities.

RWE's takeover of Essent's commercial production and supply activities by RWE has come a step closer after the vast majority of Essent's shareholders, several Dutch regional and local authorities recently voted in favor of the sale of Essent to the German utility.

-By Bart Koster; Dow Jones Newswires; +31 20 571 5201; bart.koster@dowjones.com
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