AI assistant
VERBUND AG — M&A Activity 2011
Jun 8, 2011
765_rns_2011-06-08_2269ef90-990b-45a2-a187-977fed34813f.html
M&A Activity
Open in viewerOpens in your device viewer
News Details
Ad-hoc | 8 June 2011 13:12
VERBUND AG: VERBUND sells shares in Inn power plants to Wien Energie and EVN.
VERBUND AG / Key word(s): Disposal
08.06.2011 13:12
Dissemination of an Ad hoc announcement, transmitted by DGAP - a company of
EquityStory AG.
The issuer is solely responsible for the content of this announcement.
VERBUND, Austria's leading electricity company, finalises the sale of up to
30% of its shares in the Bavarian power plants on the River Inn, a
transaction that was already announced upon the company's acquisition.
After Innkraft Bayern GmbH & Co KG acquired 3.734% of the shares in 2010
and 2011, 26% are now being transferred to the Austrian energy suppliers
Wien Energie and EVN.
VERBUND took over the 13 River Inn power plants from German energy supplier
E.ON in June 2009. Already upon the acquisition in 2009, VERBUND announced
that it would be selling up to 30% of its shares in the River Inn power
plants. In 2010 and 2011, Innkraft Bayern GmbH. & Co. KG took over a total
of 3.734% of shares. Now this process has been finalised by the sale of 26%
of the shares to Wien Energie and EVN.
The contracting parties agreed not to disclose the exact transaction price.
As was also announced previously, the shares amounting to 26% will be
transferred to the two Austrian utility companies at the original purchase
price plus adequate interest. They will additionally receive electricity
procurement rights on a pro-rata basis at market prices.
This transaction is further strengthening VERBUND's capital structure. The
signing is scheduled for the end of June; the closing will take place by
August 2011 after approval by the competent anti-trust authorities.
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:[email protected]
08.06.2011 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
Language: English
Company: VERBUND AG
Am Hof 6A
1010 Wien
Österreich
Phone: 0043-1-53113-52616
Fax: 0043-1-53113-52694
E-mail: [email protected]
Internet: www.verbund.com
ISIN: AT0000746409
WKN: 877738
Indices: ATX
Listed: Regulierter Markt in Frankfurt (General Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart; Wien (Amtlicher Handel / Official Market)
End of Announcement DGAP News-Service