E.ON SE

M&A Activity • Jan 31, 2003

News Details

Ad-hoc | 31 January 2003 12:45

E.ON AG english

E.ON to take control of Ruhrgas Ad-hoc-announcement processed and transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– E.ON to take control of Ruhrgas Ministerial approval legally valid following settlement with opponents E.ON AG has reached an out-of-court settlement with the nine opponents of the ministerial approval allowing it to take control of Ruhrgas. All opponents have now dropped their legal cases against the transaction, so today, E.ON will acquire the RAG-stake in Ruhrgas. Simultaneously, RAG will proceed with its offer to the Degussa-shareholders. In addition, the Ruhrgas shares owned by Shell, ExxonMobil and others will shortly be acquired by E.ON. With opponents EnBW and Fortum, E.ON has reached agreements on a commercial basis. Essentially, these deals involve an exchange of shareholdings. Furthermore, E.ON will acquire a stake in Concord Power under an agreement with EnBW and Saalfeld Group, the current owners of Concord Power. Concord Power plans to build a new Combined Cycle Gas Turbine Power Station in Lubmin on the Baltic Sea. With the other opponents Ampere, ares Energie, Gruppen- Gas- und Elektrizitätswerk Bergstraße, Stadtwerke Aachen, Stadtwerke Rosenheim and Trianel, E.ON has reached agreements based on gas and electricity supply contracts, the provision of assets and shareholdings, marketing support and other financial payments. These agreements lead to a total financial cost of approximately 90 million euros. In addition, Ruhrgas has reconfirmed to all the parties its commitment to open and fair competition in the gas market. There are no financial consequences arising from this commitment. end of ad-hoc-announcement (c)DGAP 31.01.2003 Issuer’s information/explanatory remarks concerning this ad-hoc-announcement: Invitation to press conference E.ON press conference “Ruhrgas”. location: E.ON AG E.ON Platz 1 40479 Düsseldorf time: Friday, 31 January 2003 3 pm ——————————————————————————– WKN: 761440; ISIN: DE0007614406; Index: DAX, EURO STOXX 50 Listed: Amtlicher Markt in Berlin, Bremen, Düsseldorf, Frankfurt, Hamburg, Hannover, München und Stuttgart; Eurex; Swiss Exchange; New York 311245 Jän 03