Oranje-Nassau Energie B.V. (ONE) completes first acquisition

Press Release

6th May 2011

Oranje-Nassau Energie B.V. (ONE) has acquired oil and gas company Cirrus, listed on the Canadian stock exchange. This gives the Dutch company the opportunity to produce oil and gas itself. The takeover involves a cost of EUR 73 million to the company.

It is ONE’s first acquisition since the company’s establishment in 2009. The French Wendel family, owner of the Oranje-Nassau Group, sold the energy division at the time. In addition to family business SHV and Sumitomo, it was the Dutch entrepreneur Marcel van Poecke who – together with former ABN Amro CEO, Rijkman Groenink – took over.