Ad-hoc | 24 April 2013 15:44
VERBUND AG / Key word(s): Miscellaneous
24.04.2013 15:44
Dissemination of an Ad hoc announcement, transmitted by DGAP - a company of
EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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VERBUND, Austria's leading electricity company, and E.ON, one of the
world's largest energy providers, finalised the asset swap, that was signed
on 3 December 2012. The closing of the agreements took place today,
Wednesday, 24 April 2013.
Under this transaction, VERBUND is selling its 50% interest in the Turkish
company Enerjisa Enerji A.S. to E.ON and in return is acquiring E.ON's
shares in eight run-of-river power plants in Germany with a proportionate
annual generation of more than 2 TWh. VERBUND already directly or
indirectly held equity interests and electricity purchase rights in the
acquired run-of-river power plants. The power plants will be 100% owned by
VERBUND after the transaction.
In addition, VERBUND is repurchasing 20.3% of the capacity of the
Zemm-Ziller power plant group (237 GWh) in the course of the transaction.
That corresponds to 60% of the electricity purchase rights of 33.8% agreed
with E.ON in 2009.
VERBUND is improving its risk profile and balance sheet structure with this
transaction and is increasing its flexibility in an overall higher-risk
energy and general economic environment.
The transaction results in significant non-recurring effects in VERBUND's
consolidated financial statements. These will be presented in VERBUND's
half-year financial statements. As a result of the transaction, VERBUND
will get a difference payment of around EUR400m, expected to flow to
VERBUND in quarter 2/2013.
Contact:
Andreas Wollein
Head of Group Finance and Investor Relations
T.: +43 (0)5 03 13 - 52604
F.: +43 (0)5 03 13 - 52694
mailto:investor@verbund.com
24.04.2013 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: VERBUND AG
Am Hof 6A
1010 Wien
Austria
Phone: 0043-1-53113-52616
Fax: 0043-1-53113-52694
E-mail: investor@verbund.com
Internet: www.verbund.com
ISIN: AT0000746409
WKN: 877738
Indices: ATX
Listed: Wien (Amtlicher Handel / Official Market)
End of Announcement DGAP News-Service
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