Cartel Office grants EWE permission to transfer its VNG stock to EnBW

Decision welcomed by EWE and EnBW

Oldenburg, Germany, 24 August 2009. The German Federal Cartel Office today consented to EWE AG transferring its stock in Verbundnetz Gas AG to EnBW Energie Baden-Württemberg AG. The approval was granted subject to the EnBW stock being sold to GESO AG. Before the transfer of VNG stock can go ahead, the move must be ratified at the Annual General Meeting of VNG AG.

The Cartel Office's decision was welcomed by EWE and EnBW as an important signal which sets the course for the future of the German natural gas market. EWE and EnBW reached an agreement on the VNG stock transfer in May of this year. The transaction was subject to the German Federal Cartel Office's approval.