During a meeting on 18th March 2010, the Dresden City Council agreed to acquire the Holding Company GESO from EnBW Energie Baden-Württemberrg AG. EnBW welcomes this decision.
“The decision taken by the City Council is a further and very significant step in the selling process,” explained Hans-Peter Villis, the EnBW CEO. “We are happy, that in spite of the upcoming change of ownership, the GESO Group, with the DREWAG and ENSO divisions, will be preserved. This has always been important for us, as we continue to feel strong ties with GESO, the City of Dresden and Saxony."
Now that the Dresden City Council has made its decision, payment of the purchase price should be completed during March 2010. The transfer of ownership will be retrospectively effective as from 1st July 2009. The purchase value is around 900 million Euros.