Japan's Mitsubishi beats Shell to buy Dutch power firm Eneco

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A group led by Japan’s Mitsubishi Corp will buy Eneco in a deal valuing the Dutch energy firm at 4.1 billion euros, Eneco said on Monday, beating off rival bids from Shell and global investment firm KKR.

Eneco, a company owned by 44 Dutch municipalities and with a strong focus on renewable energy, said it had been swayed by Mitsubishi’s plans to allow the company to continue its strategy and retain its corporate identity. 

Offshore wind is ...