Partnership and cooperation to be strengthened on the capital side
Karlsruhe. EnBW Energie Baden-Württemberg AG in Karlsruhe intends to increase its shareholdings in EVN AG in Austria to more than 25 percent by the end of 2005. The acquisition of additional shares is subject to approval by the Austrian antitrust court; EnBW will submit a corresponding antitrust motion in timely fashion. EnBW first acquired shares in EVN AG in January 2002 and has held over 10 percent of ENV shares since July 2003.
EnBW sees its plans as a commitment vis-à-vis EVN and as an obligation to continue its partnership with the province of Lower Austria, the main EVN shareholder. EnBW views EVN as a key player in the Austrian energy sector – also in connection with the possible restructuring of this sector.