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Total Could Take on Shell With Bid for Utility Firm Eneco

  • Engie, Macquarie and Mitsubishi may also be interested
  • Dutch utility Eneco is one of the largest in the Netherlands
Total SA Gas Station Operations As Oil Sinks To Lowest in Almost 7 Years

Photographer: Balint Porneczi/Bloomberg

French oil giant Total SA is working with advisers as it weighs an offer for Eneco Groep NV, joining a number of financial and industry bidders for the Dutch utility, including rival Royal Dutch Shell Plc, people familiar with the matter said.

The firm, which is owned by dozens of Dutch municipalities and is due to be auctioned this year, could fetch as much as 4 billion euros ($4.6 billion), said one of the people, who asked not to be identified because the deliberations are private. It joins companies including Engie SA, Enel SpA, Macquarie Group Ltd. and Mitsubishi Corp., which may also be interested in the asset, they said.