Green light for EnBW to increase its shareholding in MVV
Karlsruhe. The Federal Cartel Office has today issued its approval without any conditions or other restrictions for EnBW Energie Baden-Württemberg AG (EnBW) to increase its minority shareholder in the listed company MVV Energie AG (MVV). EnBW will thus increase its shareholding from 6.28 percent to 28.76 percent.
In March 2017, EnBW concluded a purchase contract with ENGIE Deutschland AG – part of the French ENGIE SA Group – for the acquisition of 6.28 percent of the shares in MVV and registered its intentions with the Federal Cartel Office. The Federal Cartel Office has since gathered detailed information from the parties to the proceedings, as well as from numerous other market participants. Following its examination of the information, the Federal Cartel Office has come to the conclusion that the increase in shareholding by EnBW does not raise any concerns in relation to competition law.
Following the approval from the Federal Cartel Office, the transaction will now be concluded.