Karlsruhe. During the purchase offer period from May 25 to June 8, 2004, the shareholders of EnBW Energie Baden-Württemberg AG purchased 11.262.652 shares from EnBW. The no-par value bearer shares with full dividend entitlement held by the company were sold at a price of € 25.60 per share, generating sale proceeds of around 288 million euros and thereby strengthening EnBW's capital base. In line with their intention as announced in the run-up to the offer, the two major EnBW shareholders, Electricité de France International (EDFI) and the Oberschwäbische Elektrizitätswerke special-purpose association (OEW), fully exercised their share purchase rights. EnBW CEO Prof. Dr. Utz Claassen welcomed the positive conclusion of the share purchase offer: "The high subscription ratio once more reflects the faith of the shareholders in the successful future of EnBW." The shares not acquired by shareholders will continue to be held by EnBW.
In addition, now that the purchase offer has been concluded, the two major shareholders EnBW will each make a subordinate shareholder loan available for an amount of 175 million euros with a term of five years.