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Utility company acquires nearly 40 per cent of Kayserigaz

EWE continues its commitment in Turkey

Oldenburg, Germany, 16 May 2008. Utility company EWE, based in Oldenburg, has enlarged its stake in the Turkish energy market by acquiring a 39.9 per cent interest in Turkish regional utility Kayserigaz. EWE is not disclosing the purchase price. In April last year EWE acquired 39.9 per cent of Turkish energy supplier Bursagaz A.S.

Kayserigaz was founded in 2003 with the Calik group previously holding 90 per cent of its equity. Based in central Turkey, the company today sup-plies nearly 129,000 customers with natural gas and employs 143 staff members.

„“Turkey is knocking at the door of the European Union and has main-tained close ties with Germany for many decades. Economic cooperation between Germany and Turkey is strikingly successful. Turkey is a growth market which we intend to use consistently. Investing in Bursagaz has already seen good results within the first year. That and the excellent col-laboration with our Turkish partner have motivated us to continue our commitment in Turkey”, said EWE’s Chief Operating Officer Heiko Harms.

Kayserigaz, he said, was also a well-positioned company based in the country’s largest industrial region. “Many industrial customers are based in the region and the heating period runs from October to May, so the demand for natural gas is high”, explained EWE’s Harms.

EWE, headquartered in Oldenburg, is one of Germany’s largest utility companies. Its range of goods and services includes electricity, gas and water supplies, energy and environmental technology, gas transportation and trading, and tele-communications and information technology. Thus, EWE provides a range of classical and innovative services at one source. EWE’s network infrastructure is characterized by a high level of technical quality, security of supplies and eco-nomically efficient operation. EWE extended its core competences at an early stage to include the operation of complex networks and provide comprehensive control and telecontrol engineering know-how in a future-oriented, multi-service offering. In addition to its established business activities in northern Germany, EWE also conducts business successfully in eastern Germany, Poland and Tur-key. The EWE Group employs circa 4,700 staff members and recorded sales of € 4.7 bn in 2007.

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