Karlsruhe. EnBW Energie Baden-Württemberg AG has increased its stake in the Austrian company EVN AG to more than 35 percent. A notice to this effect has been sent to the Vienna Stock Exchange.
“We see our stake in EVN as a long-term commitment and have a very positive view of both EVN as a company and Austria as a country. Both of them – EVN and Austria – are also very attractive for energy industry related reasons. 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 Executive Manger for Group strategy and M&A.
EVN AG is a leading Austrian energy and infrastructure company. The company’s core business segments are electricity, gas, heating, water, thermal recycling and related services. According to EVN’s annual report, the company generated sales of 1,609 million euros in 2004/05 and has an average of about 6,654 employees.
EnBW Energie Baden-Württemberg AG has about 5 million energy customers, making it the third-largest energy company in Germany. In 2005, EnBW generated annual sales of 10,769 million euros with about 17,926 employees. Its core business segments are electricity, gas and energy and environmental services.