PZEM is very pleased with this positive outcome, says Frank Verhagen CEO PZEM
PZEM N.V. concluded a provisional purchase contract with EP Netherlands B.V. on September 27, 2022. The sale required approval from the current shareholders of PZEM N.V. During the shareholders’ meeting on Tuesday 20 December 2022, approval was given to this sale by way of vote. Fifty percent of the shares of PZEM are held by the Province of Zeeland. The other fifty percent of the shares are held in varying percentages by a few municipalities in Zeeland. The final sale is still subject to a number of other conditions but will most likely take place on a date to be determined in early 2023.
PZEM Energy Company B.V. has found a shareholder in EPN who is in line with the company strategy and continues the course of the strategy “Excellence in balancing”.
PZEM Energy Company B.V. and PZEM N.V. after sale
The current PZEM continues in two separate parts. That part that has been sold is PZEM Energy Company B.V. PZEM Energy Company B.V. focuses on Asset Optimization & Trade, Analytics and supply of energy products and services to the business and wholesale market.
When selling PZEM Energy Company B.V. PZEM N.V. continues, including as (co-) shareholder of EPZ (70%), NPG Willebroek (50%) and BMC Moerdijk (50%). After completion of the transaction, the name of PZEM N.V. will change to ZEH N.V., which stands for Zeeuwse Energie Houdstermaatschappij. The trade name PZEM will continue to exist for PZEM Energy Company B.V.
See also more about this sale. PZEM intends to sell its Wholesale activities to EPH.