Joint acquisition of Gasversorgung Süddeutschland GmbH (GVS) by EnBW and Eni
Karlsruhe. Through their gas market joint venture, EnBW Energie Baden-Württemberg AG and Eni SpA have purchased a 62.22 percent stake in Gasversorgung Süddeutschland GmbH (GVS). The purchase agreements were signed on Thursday evening by the Land Baden-Württemberg, which held 25 percent of the GVS shares, six municipal shareholders with a total 37.22 interest in GVS, and the purchasers EnBW and Eni. Option agreements were also signed with two shareholders who together hold a 4.38 percent interest in GVS for the acquisition of their holdings. In addition, the EnBW-Eni joint venture intends to take over the 33.4 percent stake in GVS currently held by EnBW Group company Neckarwerke Stuttgart AG (NWS). This would take the stake of the joint venture in GVS to 95.62 percent. All agreements are subject to approval by the relevant antitrust authorities, and the contracting parties expect this approval to be announced before the end of the summer.