VERBUND AG — M&A Activity 2008

Jul 1, 2008

News Details

Ad-hoc | 1 July 2008 12:55

Österreichische Elektrizitätswirtschafts AG: Verbund/Sabanci JV successful in first privatizations of Turkish electricity distribution companies

Österreichische Elektrizitätswirtschafts AG / Tender Offer/Joint Venture

Release of an Ad hoc announcement, transmitted by DGAP - a company of
EquityStory AG.
The issuer is solely responsible for the content of this announcement.

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Joint Venture acquires regional distribution company Baskent, privatized in
Turkey through public tender.

Today in Ankara, the Verbund/Sabanci bidding consortium was selected best
bidder by the Turkish Privatization Agency in the tendering processes for
the acquisition of 100 % of the shares in the company Baskent EDAS,
operating the electricity distribution in the region of Ankara. The Baskent
region supplied some 10 TWh to its electricity customers in 2007.

The bidding consortium consisting of H. Ö. Sabanci Holding A.S. (49%) and
Österreichische Elektrizitätswirtschafts-Aktiengesellschaft (Verbund)
(49%), together with their previously qualified and jointly owned Turkish
electricity generation joint venture Enerjisa Enerji Üretim AS (2%), was
selected as winner of the auctions based on its bid of 1,225 million USD
for Baskent EDAS.

With about 3 million customers, Baskent accounts for some 9 % of overall
Turkish electricity region sales. In 2007 Baskent generated sales of nearly
1,1 billion USD.

Together, partners Sabanci and Verbund aim to become Turkey’s leading
integrated utility, targeting in 2015 a market share of at least 10 % in
the Turkish electricity market. They aim at further developing generation,
distribution and supply, as well as wholesale/trading of electricity in
Turkey. Besides distribution in Baskent, EnerjiSA's target portfolio for
2015 also includes an installed capacity of 5,000 MW, up from a currently
installed capacity of 455 MW.

Contact:
Andreas Wollein
Head of Group Finance and Investor Relations
T.: +43 (0)5 03 13 - 52604
F.: +43 (0)5 03 13 - 52694
mailto:investor@verbund.at

01.07.2008 Financial News transmitted by DGAP

Language: English
Issuer: Österreichische Elektrizitätswirtschafts AG
Am Hof 6A
1010 Wien
Österreich
Phone: 0043-1-53113-52616
Fax: 0043-1-53113-52694
E-mail: andreas.wollein@verbund.at
Internet: www.verbund.at
ISIN: AT0000746409
WKN: 877738
Indices: ATX
Listed: Regulierter Markt in Frankfurt (General Standard);
Freiverkehr in Berlin, Hamburg, Düsseldorf, München,
Stuttgart; Foreign Exchange(s) Wien

End of News DGAP News-Service

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