Karlsruhe. EnBW Energie Baden-Württemberg AG will acquire 26% of the share capital in EWE AG with registered offices in Oldenburg. EWE AG is one of the largest German energy companies, with some 4,700 employees and group revenue of 4.7 billion euros generated in the fiscal year 2007.
The association of municipal EWE shareholders decided at a private meeting today to accept EnBW Energie Baden-Württemberg AG’s bid to acquire 26% of the shares in EWE. In the tender process, EnBW had submitted a binding offer not subject to the condition precedent of board approval.
EnBW will acquire the 26% shareholding in EWE AG by purchasing existing shares and by means of a capital increase by cash subscription. The transaction volume is around 2 billion euros in total. The acquisition is subject to the approval of anti-trust authorities responsible.
Note for the editorial offices:
EWE AG is holding a press conference on Friday, July 11, 2008, from 1 p.m., on the 6th floor of the building of EWE-Geschäftsregion Oldenburg/Varel, at Donnerschweer Strasse 22-26, 26123 Oldenburg, Germany.
Dr. Werner Brinker, CEO of EWE AG, Hans-Peter Villis, CEO of EnBW AG, Günther Boekhoff, Chairman of EWE’s supervisory board and Henning Schultz, general manager of Ems-Weser-Elbe Versorgungs- und Entsorgungsbeteiligungsgesellschaft, will be available to answer questions.
Please also note that you can follow the press conference live on the internet at www.ewe.de on Friday from 1 p.m. in the press area in German and English. There is also the possibility of addressing questions to the participants by e-mail (email@example.com) during the press conference.