This reduction of the shareholding is part of EnBW’s divestiture programme. Combined with a package of measures to reinforce its financial strength and enhance efficiency, this will create the foundation for further growth of the company. The opportunity presented itself to SIG as it was looking for means of offering electricity supplies from renewable sources. EDH is a company based in Switzerland that owns a large number of hydro‐electric power stations on the Rhine and in Valais. The parties have agreed not to disclose the purchase price.
Hans‐Peter Villis, EnBW’s CEO is looking forward to cooperation with SIG. “We are pleased to welcome SIG as a competent energy partner among the shareholders of EDH. This step also opens up opportunities for Energiedienst for targeted development in the renewable energies sector in Switzerland. This corresponds to our strategy and strengthens Energiedienst. The sale of our shareholding in Energiedienst is part of our medium‐term divestiture programme and is intended to reinforce our equity base and thus our investment power.”
Parallel to this transaction, EnBW and SIG will sign a long]term electricity supply agreement. A cooperation agreement will also be signed by SIG and EnBW in the fields of renewable energies and energy services. In this context, EDH and SIG will also examine potential cooperation projects in the areas of energy generation and sales. If the assessment proves positive, they will conclude and realise these projects. SIG will benefit from a seat on EDHfs board of directors thereby creating a real alliance, even beyond this transaction.
André Hurter, CEO of SIG underlines the importance of this transaction for Geneva: “SIG’s investment in the capital of EDH signals the beginnings of a utilities partnership in Switzerland oriented towards sustainable development. It also paves the way for Geneva to become more independent in terms of energy supplies from renewable sources and secure supplies at competitive prices. This will open up interesting prospects for the future.”
Martin Steiger, CEO of EDH: “I am happy that we have found a new shareholder who will at the same time be a strategic partner. It is an important step for EDH’s development in Switzerland.”
A press conference will take place today in Bern at the Hotel Kreuz at 1 p.m with the participation of Mr André Hurter, CEO of SIG, and Mr Martin Steiger, CEO of EDH.
EnBW EnBW Energie Baden‐Württemberg AG:
With some six million customers and more than 20,000 employees, ENBW generated annual revnue in excess of € 17 billion in 2010. EnBW is the third‐largest energy company in Germany. EnBW operates in Germany and Switzerland as well as on the Czech, Austrian, Hungarian, Polish and Turkish markets. EnBW has been the majority shareholder of EDH since 2003.
Services Industriels de Genève (SIG):
The purpose of SIG as a public sector entity is to supply the canton of Geneva with electricity, gas, water and thermal energy and to provide waste and wastewater treatment services. It also has a large fibre‐optic network. With revenue in excess of CHF 1 billion in 2010 and 1,700 employees, SIG is the largest utility company in Switzerland.
Energiedienst Holding AG (EDH):
EDH is listed on the Swiss stock exchange (SIX) and is an electricity supplier for part of Switzerland and southern Germany. With revenue of € 815 million in 2010 and 770 employees, EDH has three hydro‐electric power stations on the Rhine and holds major investments in hydro‐electric power stations along the Rhine and in Valais. EDH also has an electricity distribution network in southern Germany and in Upper Valais (EnAlpin AG). In 1998, EDH created the NaturEnergie brand of green electricity.
EnBW Energie Baden‐Württemberg AG
Phone +49 721 63 14320
Media contact for SIG:
Services Industriels de Genève
Isabelle Dupont Zamperini
Phone +41 79 759 12 08
Media contact for EDH:
Energiedienst Holding AG
Phone +49 7763 812 660