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EVN AG M&A Activity 2020
742_iss_2020-01-23_78714c52-3121-4b1f-a7cd-87fc385d7bac.pdf
M&A Activity
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DGAP-Ad-hoc: EVNAG/ Keyword(s): Miscellaneous/TenderOffer EVNAG: Signing on 23 January2020 of the agreement for the implementation of the sewage treatment projectUmmAl Hayman in Kuwait
23-Jan-2020 / 09:49 CET/CEST
Disclosure of an inside information acc. toArticle 17 MARof the Regulation (EU) No 596/2014, transmitted byDGAP- a service of EQS GroupAG.
The issuer is solelyresponsible for the content of this announcement.
EVNannounces that the consortium in which WTE WassertechnikGmbH(WTE), a wholly-owned subsidiaryof EVNAG, and a Kuwaiti financial investor each hold a 50%stake,was awarded the contract to construct the sewage treatment projectUmmAl Hayman in Kuwait (sewage treatment plant as well as canal networkwith pumping stations).
In connection herewith, the Ministryof Public Works in Kuwait and the project companyestablished for this project (indirect WTEparticipation of 20%) signed on 23 January2020 an agreement for the construction and implementation of the sewage treatment project within the framework of a public private partnership.
The implementation of this agreement is subject to a number of usual conditions precedent, in particular the execution of fully-negotiated financing and guarantee agreements. The conditions precedent are expected to be fulfilled shortly.
As general contractor, WTEis expected to be responsible for the planning and construction of, in particular, a wastewater treatment facility (contract value converted into euro of around EUR600 million) as well as - with partners - a canal networkwith pumping stations (contract value converted into euro of around EUR950 million).
Plans for completion of the project anticipate a time frame of 30 months for the wastewater treatment facilityand four years for the canal networkwith pumping stations. Thereafter, WTEwill operate the wastewater treatment facilityfor 25 years and the canal network for three years.
Contact: Gerald Reidinger Head ofControlling and Investor Relations Phone: +43 2236 200-12698 E-mail: [email protected]
Stefan Zach Head of Information and Communication Phone: +43 2236 200-12294 E-mail: [email protected]
23-Jan-2020 CET/CESTThe DGAPDistribution Services include RegulatoryAnnouncements, Financial/Corporate News and Press Releases.
Archive atwww.dgap.de
| Language: | English |
|---|---|
| Company: | EVNAG |
| EVNPlatz | |
| 2344 Maria Enzersdorf | |
| Austria | |
| Phone: | +43-2236-200-12294 |
| E-mail: | [email protected] |
| Internet: | www.evn.at |
| ISIN: | AT0000741053 |
| WKN: | 074105 |
| Indices: | ATX |
| Listed: | Foreign Exchange(s) Vienna Stock Exchange (Official Market) |
| EQSNews ID: | 959389 |
End ofAnnouncement DGAPNews Service