Sales process of the Saxon investment holding company GESO in the decisive phase

Karlsruhe. After EnBW Energie Baden-Württemberg AG notified the Federal Cartel Office about the decision to sell GESO, another important milestone in the selling process has been able to be achieved: EnBW has now decided upon the Technischen Werke Dresden (TWD), a 100 percent subsidiary of the state capital of Dresden, as the preferred bidder and is now exclusively carrying out further negotiations with TWD. The aim is to conclude a sales contract in the near future. EnBW and TWD have agreed not to disclose further details about the status of negotiations.

The EnBW Chairman, Hans-Peter Villis: “It was always important to keep the GESO company organisation together with the DREWAG and ENSO pillars and generally reinforce it. The Technischen Werke Dresden meets this requirement. This is important to me because we are looking back on a good, long-standing and mutual partnership with GESO and feel closely connected to the city of Dresden, the region of East-Saxony and the state of Saxony.“

The Lord Mayoress, Helma Orosz, adds: “I welcome EnBW's decision. Our offer was convincing and we will take advantage of the unique opportunity for the energy industry in Saxony. With DREWAG and Enso, two important and very good companies are remaining in Dresden. Together with the region's local authorities, which already participate in the ENSO through the KBO, we can represent regional interests.”