20.04.2016 - EWE AG

EWE and EnBW conclude restructuring of their shareholdings

EWE transfers shares in VNG to EnBW / EnBW shareholding in EWE falls from 26 to six per cent

Oldenburg/Karlsruhe, Germany, 20 April 2016. The utility companies EWE AG (Oldenburg), EnBW Energie Baden-Württemberg AG (Karlsruhe) and Ems-Weser-Elbe Versorgungs- und Entsorgungsverband (Oldenburg) have today concluded the fundamental restructuring of their shareholdings. EnBW now has a 74.2 per cent shareholding in VNG Verbundnetz Gas Aktiengesellschaft (VNG). At the same time, EWE-Verband and EWE itself have today both acquired ten percent of EWE shares from EnBW. Six per cent of EWE shares will remain in the possession of EnBW until 2019, when they will be acquired by EWE-Verband at the latest. EWE-Verband and EWE intend to find a new strategic partner for EWE by 2019 at the latest.

Matthias Brückmann, CEO of EWE AG:
“We are happy that we were able to conclude the transaction agreed last autumn as planned. Now we have to start preparing to look for a new strategic partner from 2017 or a consortium of several companies. We want to find a partner who supports our path towards a safe, clean and digitalised energy future, and we are convinced that this will be possible by working together with our communal shareholders.”

Dr. Frank Mastiaux, CEO of EnBW AG:

“We have succeeded in finding a solution together with EWE that offers both companies the room they need for further strategic growth. We intend to achieve our ambitious targets in the gas business by working in close cooperation with VNG. The closing sparks the start of intelligently linking our skills and activities along the gas and electricity value chain and breathing life into this cooperation. Following the acquisition of terranets bw and GVS, this will add further impetus to the gas business of EnBW.”

Heiner Schönecke, Managing Director of EWE-Verband:
“Today has shown that the parties involved made viable and sensible agreements six months ago. Therefore, along with the managers at EWE and EnBW, I am pleased to say that this transaction has been brought to its planned conclusion, and look forward to a continuation of this sound cooperation.”

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