E.ON to Take Verbund's 50% Stake in EnerjiSA
December 03 2012 - 4:20PM
Dow Jones News
VIENNA--Austrian utility Verbund AG (VER.VI) and German energy
provider E.ON SE (EOAN.SE) have agreed to exchange assets, Verbund
said late Monday.
Verbund, which has been reassessing and shuffling its portfolio,
will gain eight run-of-river hydroplants along the Danube and Inn
rivers from E.ON. In exchange, E.ON will takeover Verbund's 50%
stake in the Turkish joint venture EnerjiSA. The remaining 50% is
owned by Turkey's Sabanci Holding.
"We want to concentrate on hydropower, majority holdings and the
Austrian and German markets," said Verbund's Chief Executive
Officer Wolfgang Anzengruber.
Write to Nicole Lundeen at nicole.lundeen@dowjones.com
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