DGAP-News: VERBUND AG: VERBUND sells interest in STEWEAG-STEG to Energie Steiermark
(firmenpresse) - DGAP-News: VERBUND AG / Key word(s): Disposal/Agreement
VERBUND AG: VERBUND sells interest in STEWEAG-STEG to Energie
Steiermark
03.12.2012 / 15:03
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VERBUND, Austria's leading utility, was able to take further successful
steps in restructuring the investment portfolio in Austria and the planned
disinvestment program.
VERBUND and Energie Steiermark AG (ESTAG) have reached an agreement under
which VERBUND would sell the minority interest of 34.57% of the
distribution company STEWEAG-STEG to its parent company ESTAG and in return
would purchase an approx. 14.7% interest of STEWEAG-STEG in VERBUND Thermal
Power GmbH&Co KG and an approx. 14% interest of ESTAG in VERBUND Thermal
Power GmbH. Regarding the interest of ESTAG in VERBUND Thermal Power the
corresponding formal decisions will be made on Wednesday.
After the transaction is completed, VERBUND will hold 80% and Energie
Steiermark 20% of the interest in VERBUND Thermal Power GmbH. VERBUND will
hold an approx. 76% interest and Energie Steiermark an approx. 20% interest
in VERBUND Thermal Power GmbH&Co KG after this; the remaining approx. 4%
is held by various minority shareholders from the Austrian energy industry.
All transactions are subject to authorization under anti-trust law.
The sale of the minority interest in STEWEAG-STEG and the changes in
interest at VERBUND Thermal Power will result in a net cash inflow of
EUR250m for VERBUND. The cash inflow is expected in quarter 1/2013.
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:investor(at)verbund.com
End of Corporate News
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03.12.2012 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: VERBUND AG
Am Hof 6A
1010 Wien
Austria
Phone: 0043-1-53113-52616
Fax: 0043-1-53113-52694
E-mail: investor(at)verbund.com
Internet: www.verbund.com
ISIN: AT0000746409
WKN: 877738
Indices: ATX
Listed: Foreign Exchange(s) Wien (Amtlicher Handel / Official
Market)
End of News DGAP News-Service
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195588 03.12.2012
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Unternehmensinformation / Kurzprofil:
Datum: 03.12.2012 - 15:03 Uhr
Sprache: Deutsch
News-ID 208945
Anzahl Zeichen: 3744
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Kategorie:
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