Enel, Total drop from Eneco takeover bid

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French energy majors Total SA and Enel SpA of Italy have dropped the bid in the acquisition of Dutch utility Eneco. 

The decision of the two companies leaves Dutch pension fund manager APG to seek for a new partner in the acquisition bid. 

Dutch oil and gas giant Royal Dutch Shell Plc in partnership with pension fund service provider PGGM  have expressed their intentions for the takeover. Australia’s Macquarie Group Ltd, Japan’s Mitsubishi Corp, and French utility EDF SA have also presented a non-binding offer to acquire Eneco. 

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