Energy Company Luminus Takes Over Competitor Essent Belgium
Energy company Luminus takes over competitor Essent Belgium. Both companies have announced this. The transaction strengthens Luminus’s position as number two on the Belgian energy market.
There is another shift in the Belgian energy market and that shift is once again heading towards France, because Luminus – a subsidiary of the French energy company EDF – has reached an agreement to acquire Essent Belgium.
The takeover strengthens Luminus’s position as number two in the Belgian energy market. The big number one remains of course Engie Electrabel, which is also in French hands. In Belgium, Lampiris is also in French hands, that of Total.
Essent Belgium is part of Essent Nederland, which is itself owned by the German E.ON group. The Belgian activities were on display, and are now in the hands of Luminus. Completion of the acquisition is expected in the second quarter. An acquisition price was not released.
Essent is active in Flanders and Wallonia in the Netherlands with the supply of electricity and gas, and was the fifth largest supplier. As a result of the acquisition, Luminus will gain around 520,000 customers.
Nothing will change for Essent and Luminus customers: the terms and conditions of their contracts and contact persons will remain unchanged. The intention is that in time the name Essent will disappear in our country.
Before the acquisition, Luminus had a market share of 20 percent on the Belgian energy market, good for 1.8 million customers. The takeover increases the market share to a quarter. About 2,000 people work at Luminus, Essent Belgium has about 300 employees.
Energy Company Luminus Takes Over Competitor Essent Belgium - /10