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VERBUND AG — M&A Activity 2014
Oct 6, 2014
765_rns_2014-10-06_06e632a0-bc1e-47f9-9afc-6d8ba289dcb2.html
M&A Activity
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Ad-hoc | 6 October 2014 13:25
VERBUND AG: Sale of the French Pont-sur-Sambre and Toul combined cycle gas turbine power plants
VERBUND AG / Key word(s): Disposal/Disposal
06.10.2014 13:25
Dissemination of an Ad hoc announcement, transmitted by DGAP - a service of
EQS Group AG.
The issuer is solely responsible for the content of this announcement.
VERBUND, Austria's leading utility and KKR, a leading global investment
firm, reach an agreement on the sale of the French Pont-sur-Sambre and Toul
combined cycle gas turbine power plants. The contracts are scheduled to be
signed in the days to come.
The sale of the French combined cycle gas turbine power plants, classified
as held for sale since 31 December 2013, represents a major milestone for
VERBUND in the optimisation of its entire thermal power plant portfolio.
With this transaction, VERBUND strengthens the core business, reinforces
its position as a producer of renewable energy in Europe and concludes its
involvement in the French electricity market. The transaction is scheduled
to close at the end of 2014 and still requires competition and other
regulatory approvals, among others. The sales price corresponds to the
level of the current carrying amount of the power plants.
After the finalisation of the transaction, there will be no negative
contributions to results in connection with both of the disposed French
combined cycle gas turbine power plants from financial year 2015.
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]
06.10.2014 The DGAP 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