* Amended deal excludes disputed nuclear power plant
* Essent's stake in nuclear plant to stay public-owned (Adds spokesman's comments, details, background)
By Aaron Gray-Block
AMSTERDAM, Sept 2 (Reuters) - Germany's RWE
RWE agreed to buy Essent for 8.2 billion euros in January in a deal that included Essent's 50 percent stake in the nuclear power plant, but a Dutch court ruled in July RWE could not acquire that stake because it had to remain in public hands. The enterprise value of the deal (including debt) was 9.3 billion euros.
Essent spokesman Jeroen Brouwers said on Wednesday the two companies had now agreed to exclude the power plant from the deal and that RWE will pay 950 million euros less, confirming an earlier report in Dutch daily Het Financieele Dagblad.
"We have found a solution for the nuclear power plant Borssele. For the time being, our 50 pct stake is not part of the deal," Brouwers said.
Brouwers said RWE and Essent had proposed the new deal to a shareholders' committee, which had agreed to recommend the amended terms to Essent's shareholders, Dutch provinces and city councils.
Onno Hoes, chairman of the Essent shareholders' commission, told the Dutch newspaper the amendment was "not material" and would not have to be voted on by Essent's shareholders.
But he added a period of 15 work days had been agreed on for shareholders to discuss the deal.
The nuclear power plant is part owned by Dutch utility Delta, which has opposed the transfer of Essent's 50 percent stake to RWE arguing that statutes governing the partnership between Essent and Delta stipulated it could not be sold to a listed company.
A Dutch court upheld the statutes in a preliminary ruling in July. [ID:nLA536633]
"We have appealed against the court ruling, but a ruling could take up to six years," Essent's Brouwers said.
It has now been agreed that Essent's stake in Borssele, the Netherlands' only operating nuclear power plant, will be placed in a new company which will stay under ownership of Essent's current shareholders.
RWE and Essent expect to be able to close the deal on Oct. 1, Brouwers said. (Editing by Carol Bishopric)