Karlsruhe/Cologne. EnBW Energie Baden-Württemberg AG has successfully completed the sale of its 28.8 percent shareholding in MVV Energie AG based in Mannheim. The transaction was closed with effect from 30 June 2020 following approval by the responsible supervisory and antitrust authorities.
The purchaser and now new major shareholder with 45.1 percent of the shares are the funds managed by the international asset management company First State Investments, which also acquired the MVV shares held by RheinEnergie alongside those held by EnBW. The transaction was initiated and realised in agreement with MVV and the City of Mannheim as the majority shareholder of MVV.
The City of Mannheim still holds the majority of the share capital in MVV with 50.1 percent of the shares. EnBW had held an investment in MVV since 2004, most recently holding 28.8 percent of the shares.