EnBW increases its share in the Austrian company EVN AG to just under 30 percent

Karlsruhe. EnBW Energie Baden-Württemberg AG has increased its share in the Austrian company EVN AG from 13.2% to almost 30%. A notice to this effect was sent to the Stock Exchange in Vienna this morning. The step up of the shares was previously approved by both the German and Austrian anti-trust authorities.

“We see our increased stake in EVN as a long-term involvement and are very positive about both EVN and Austria as a whole. Both EVN and Austria are extremely attractive for the energy industry. As a strategic investor, we want to contribute more of our expertise in the industry in positive discussions with EVN,” said Dr. Amir Ghoreishi, EnBW’s head of corporate strategy and M&A.

EVN AG is a leading Austrian energy and infrastructure services group. The company’s core business areas are electricity, gas, heating, water, thermal waste management and related services. According to EVN’s annual report, the company recorded sales of € 1,207 million in 2003/04 and has an average of around 2,600 employees.

EnBW Energie Baden-Württemberg AG serves approximately 5 million energy customers and is the third-largest energy company in Germany. In 2004, EnBW generated annual sales of € 9,844 million with around 17,700 employees. Its core business areas are electricity, gas, and energy and environmental services.