Karlsruhe. As part of the ongoing strategic reorientation programme that began in 2003, EnBW Energie Baden-Württemberg AG is now also restructuring its holdings in Austria. As the company has announced, this will involve the placement of EnBW's entire 6.33% holding in Österreichische Elektrizitätswirtschafts-AG (also known as "Verbund") with institutional investors in the near future.
In view of the favourable capital market environment, EnBW soon intends to offer the shares to institutional investors in an accelerated bookbuilding process. Full placement of the shares will increase the "Verbund" free float from around 15.7 % to approx. 22%.
The shares are to be offered to institutional investors by a bank consortium led by Merrill Lynch as sole bookrunner and Raiffeisen Centrobank as co-lead manager. Metzler Corporate Finance is acting as financial consultant to EnBW.
Following the sale of EnBW Austria and a successful placement of the shares in "Verbund", EnBW's activities in Austria will focus on the strategic holding in Energieversorgung Niederösterreich AG (EVN).
Stabilisation FSA and German Law
This announcement does not constitute an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration under the U.S. Securities Act of 1933 (the "Securities Act") or an exemption from registration. The securities proposed to be placed will not be registered under the Securities Act.
NOT FOR DISTRIBUTION IN THE UNITED STATES; CANADA OR JAPAN