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Report: Shell, Mitsubishi, KKR make it to final round of Eneco auction

Oil major Royal Dutch Shell PLC, Japanese conglomerate Mitsubishi Corp. and private equity firm KKR & Co. have been shortlisted for the final bid round for Dutch energy generator Eneco Groep NV, Reuters reported Oct. 10, citing three sources.

The deadline for the final bid is Nov. 4, one source said. The report said Eneco plans to wrap up the process by Christmas.

Some private equity investors refrained from bidding due to indications that Eneco prefers a strategic buyer, sources told Reuters.

In late June, a consortium composed of Shell and pension fund manager Pggm Coöperatie U.A. reportedly widened its lead in bidding for the Dutch energy company.

In mid-July, Dutch bank Rabobank formed a consortium with KKR to bid for Eneco.