Delta Lloyd and Rabobank have teamed up to become one of the co-owners of Econcern, the sustainable energy company.
Delta Lloyd and Rabobank have teamed up to become one of the co-owners of Econcern, the sustainable energy company.
Together with Rabobank and existing shareholder SHV, Delta Lloyd now holds precisely 50% of the shares in Econcern. The other 50% remains in the hands of management and employees.
This move by Delta Lloyd and Rabobank builds on their existing business relations with Econcern. Delta Lloyd is already an investor in the Ampère Fund, created to provide Econcern with equity capital for a series of sustainable energy projects. Delta Lloyd is also involved in a number of other projects, including the Q7 offshore wind-park.
Sustainable energy supplies
Delta Lloyd and Rabobank's joint venture, in combination with SHV, is providing Econcern with a capital injection of €300 million. This boost to Econcern's balance-sheet has put the company in an even stronger position to deliver on the projects that make up its business plan until 2012, helping to ensure that Econcern comes good on its mission: ‘to create a sustainable energy supply for everyone'. The company is predicting turnover reaching €8 billion in 2012, with profits of €1 billion.
Econcern's shareholders are looking to float Econcern in the medium-term.
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Contact:
Eliza de Waard
Telephone: (+31) 20 594 44 88