EnBW sells U-plus to ALBA

Karlsruhe. The Board of Management of EnBW Energie Baden-Württemberg AG decided, subject to the approval of the supervisory board committees and authorisation by the Federal Antitrust Office, to sell the U-plus group to the waste disposal company ALBA AG, Berlin. The ALBA group operates in the areas of waste disposal, recycling waste management and facility management as well as steel and metal recycling throughout Germany. EnBW is convinced that this sale will also offer the U-Plus group very good opportunities for the future outside the EnBW group. ALBA AG specialises in waste disposal and thus offers the U-plus group good development possibilities.

“In terms of the criteria defined for the sale – recoverability, transaction security, risks under antitrust law and contractual risks as well as securing existing locations – ALBA made the best overall offer. In addition, ALBA was able to present a convincing plan to EnBW of how it intends to maintain the locations and secure jobs as well as to uphold the commitment of the U-Plus group to collective bargaining agreements, even with the prospect of creating more jobs and increasing investment in vocational training,” Dr. Amir Ghoreishi, authorised representative of EnBW for M&A and corporate strategy.

EnBW has thus accomplished the last big step in its portfolio grooming. “Having successfully focused on our core business, we can now systematically address the strategic growth topics in the energy sector,” EnBW’s CEO Prof. Dr. Utz Claassen.

With revenue in excess of EUR 240 million in 2006 and 1,250 employees, the U-plus group is one of the largest German waste disposal companies offering the full range of waste disposal services required in today’s modern waste management and recycling industry.The regional focus of U-Plus is south-west Germany.