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VERBUND AG — M&A Activity 2013
Apr 24, 2013
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M&A Activity
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Ad-hoc | 24 April 2013 15:44
VERBUND AG: Closing of the asset swap with E.ON
VERBUND AG / Key word(s): Miscellaneous
24.04.2013 15:44
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, and E.ON, one of the
world's largest energy providers, finalised the asset swap, that was signed
on 3 December 2012. The closing of the agreements took place today,
Wednesday, 24 April 2013.
Under this transaction, VERBUND is selling its 50% interest in the Turkish
company Enerjisa Enerji A.S. to E.ON and in return is acquiring E.ON's
shares in eight run-of-river power plants in Germany with a proportionate
annual generation of more than 2 TWh. VERBUND already directly or
indirectly held equity interests and electricity purchase rights in the
acquired run-of-river power plants. The power plants will be 100% owned by
VERBUND after the transaction.
In addition, VERBUND is repurchasing 20.3% of the capacity of the
Zemm-Ziller power plant group (237 GWh) in the course of the transaction.
That corresponds to 60% of the electricity purchase rights of 33.8% agreed
with E.ON in 2009.
VERBUND is improving its risk profile and balance sheet structure with this
transaction and is increasing its flexibility in an overall higher-risk
energy and general economic environment.
The transaction results in significant non-recurring effects in VERBUND's
consolidated financial statements. These will be presented in VERBUND's
half-year financial statements. As a result of the transaction, VERBUND
will get a difference payment of around EUR400m, expected to flow to
VERBUND in quarter 2/2013.
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]
24.04.2013 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
Austria
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: Wien (Amtlicher Handel / Official Market)
End of Announcement DGAP News-Service