British-Dutch oil and gas major Royal Dutch Shell and PGGM, a pension fund company, intend to jointly purchase electricity company Eneco, a subsidiary of Eneco Group.
The transaction value is predicted to be approximately 3 billion euros ($3.4 million). The sale procedure will start in the spring.
Royal Dutch Shell said that Eneco's activities are in line with its New Energies activities and the company aims at finding new ways to decrease emissions and deliver cleaner energy.
Following the acquisition, PGGM and Shell plan to keep Eneco a green character.