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16.10.2015 - EWE AG

EWE sells VNG shareholding to EnBW and buys back own stock

Oldenburg, Germany, 16. October 2015: EWE AG is to sell its 74.2 per cent shareholding in VNG-Verbundnetz Gas Aktiengesellschaft, Leipzig, (“VNG”) to EnBW Energie Baden-Württemberg AG (“EnBW AG”) and will thus realise a book profit. This transaction forms part of a contract concluded as of today’s date between EWE AG, its municipal shareholders and EnBW AG. The parties to this contract have also agreed that EnBW AG will divest itself of its 26 per cent EWE shareholding over a period of time. EWE will itself buy back ten per cent of its own stock. A purchase price of €504.8 million has been agreed for this. EWE’s municipal shareholders will purchase a further ten per cent of EWE’s stock in 2016 and will acquire the remaining six per cent of EWE’s stock by no later than 2019. The overall transaction is still subject to approval by the relevant antitrust authorities.