Ad-hoc | 19 December 2001 08:14

MVV Energie AG english

MVV Energie AG Acquires 49.9% Participation in Stadtwerke Ingolstadt Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– MVV Energie AG Acquires 49.9% Participation in Stadtwerke Ingolstadt Mannheim, 19/12/2001. On December 18, 2001, the City Council of Ingolstadt resolved to accept the offer of MVV Energie AG to acquire 49.9% of the shares in Stadtwerke Ingolstadt Beteiligungen GmbH & Co KG (SWI) for Euro 116 million (DM 227 million). In fiscal year 2000, SWI had sales of ca. Euro 123 million (DM 240 million) and EBIT of Euro 17 million (DM 34 million). With its core business in supplying electric power, natural gas and district-heating service as well as providing facility management for water service to the city of Ingolstadt, SWI has direct access to over 50 000 customers. These include major bulk-rate customers, e.g. AUDI AG. The participation of MVV Energie AG applies economically only to the energy division, which comprises the subsidiaries Stadtwerke Ingolstadt Energie GmbH and Stadtwerke Ingolstadt Netze GmbH & Co. KG. All economic results of the transportation, recreational and telecommunications divisions will remain with the sole shareholder, the City of Ingolstadt. It is agreed that Stadtwerke Ingolstadt Beteiligungen GmbH & Co. KG and Stadtwerke Ingolstadt Netze GmbH & Co. KG will change their legal form to a limited company (GmbH) in early 2002. MVV Energie AG has been developing concepts to increase efficiency for commercial and industrial customers with its Europe-wide energy trading and its broad portfolio of energy services. In future these will be offered to the Bavarian market by SWI due to its proximity to this, one of the most interesting economic districts in Germany. Hence, in addition to founding a value-added services provider that MVV Energie AG will capitalise, a comprehensive package has been contractually agreed on for transferring know-how on continuing short-term structural development of SWI. With this participation in SWI, MVV Energie AG has secured itself a role as a strategic partner in Ingolstadt, thereby continuing consistent implementation of its growth strategy both in Germany and Europe.The decision in favour of MVV Energie AG was made after an international bidding procedure, in which major energy utilities took part. The transaction for the SWI shares will be completed before the end of 2001. Contact: MVV Energie AG Investor Relations, Tel. ++49-621-290-3708, E-Mail: ir@mvv.de, http://www.mvv-investor.de end of ad-hoc-announcement (c)DGAP 19.12.2001 ——————————————————————————– WKN: 725590; ISIN: DE0007255903; Index: SDax Listed: Amtlicher Handel in Frankfurt (SMAX) und Stuttgart; Freiverkehr in Berlin, Düsseldorf, Hamburg und München 190814 Dez 01