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Vattenfall says makes $10.9 billion bid for Dutch Nuon

STOCKHOLM | Mon Feb 23, 2009 5:36am EST

STOCKHOLM (Reuters) - Swedish utility Vattenfall has agreed to buy 49 percent of the shares in Dutch peer Nuon and to buy the remaining stake in the coming six years, the two firm said in a joint statement on Monday.

"Vattenfall has made an all cash offer of 8.5 billion euro ($10.98 billion) enterprise value for 100 percent of the shares, equaling 10.3 billion euros for the equity of Nuon's production and supply company after 2008 dividends," Vattenfall said in a statement.

It said Nuon's grid company Alliander was not included in this transaction.
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