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Business deals

Mitsubishi hones renewable skills with $4.5bn Dutch buyout

Trading house teams with Japan utility Chubu to purchase Eneco for distribution expertise

Wind turbines in France: Europe is a world leader in adopting renewable energy.   © Reuters

TOKYO -- Japan's Mitsubishi Corp. and Chubu Electric Power were selected as preferred buyers for Dutch energy company Eneco, as the partners seek know-how on downstream distribution of renewable power in Europe -- expertise that also could be applied in the U.S. or Asia.

The Mitsubishi-led group outbid Royal Dutch Shell and others in a deal estimated to be worth $4.5 billion. The parties announced the selection on Monday.

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