Federal Cartel Office: EWE allowed to transfer its VNG shares to EnBW
EWE and EnBW welcome the decision
Oldenburg/Karlsruhe, 24th August 2009. The Federal Cartel Office approved the transfer of EWE AG shares in the company VNG Verbundnetz Gas AG to EnBW Energie Baden-Württemberg AG today. The approval is subject to the condition of EnBW selling its shares in GESO AG. Now, the general shareholders meeting of VNG AG has to approve the VNG shares being transferred to EnBW.
EWE and EnBW welcome the decision of the Cartel Office as an important factor in setting the course of the future development of the German natural gas market. EWE and EnBW contractually agreed to the transfer of VNG shares in May of this year. The transaction was subject to approval through the Federal Cartel Office.
EWE with its headquarters in Oldenburg is one of the largest energy companies in Germany. The group's services include power, gas and water supplies, energy and environmental technologies, gas transport and trade as well as telecommunications and information technology. Thus EWE offers classical and innovative services from a single source. EWE's network infrastructure stands out thanks to high technical quality, supply reliability and economically efficient operation. EWE developed its core competences of complex network operation and its comprehensive know-how in the areas of telecontrol and control systems into a future-oriented multi-service range at an early stage. Beyond its traditional business area in Northern Germany, EWE is also successful in the former East German states, Poland and Turkey. In 2008, the EWE group had around 5,300 employees and achieved turnover of 5.3 billion euros.
With about six million customers, the company EnBW Energie Baden-Württemberg AG is the third largest energy supply company in Germany and achieved turnover figures for 2008 of more than 16 billion euros with more than 20,000 employees. EnBW's business fields are power, gas as well as energy and environment services. Beyond its local market in Baden-Württemberg, EnBW not only operates throughout Germany, it is also represented in the markets of Central and South-East Europe. It holds investments in Switzerland, Austria, Hungary, Prague and Poland, for example. This year, EnBW also entered the Turkish market.
EWE contact:
EWE AG
Daniel Waschow
Tirpitzstr. 39
26122 Oldenburg/Germany
Tel.: +49 4 41 / 8 03 - 18 00
Fax: +49 0 41 / 8 03 - 18 95
Mobile: +49 1 62 / 1 33 18 00
e-mail: daniel.waschow@ewe.de
www.ewe.de
EnBW contact:
EnBW Energie Baden-Württemberg AG
irk Ommeln
Durlacher Allee 93
76131 Karlsruhe/Germany
Tel.: +49 7 21 / 63 - 14 320
Fax: +49 7 21 / 63 - 12 672
e-mail: Presse@enbw.com
www.enbw.com