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Austrian Federal Competition Authority Approves Verbund´s Deal in Turkey

Published: January 11, 2013; 13:50 · (Vindobona)

The Austrian energy group Verbund sells its stake in the Turkish joint venture Enerjisa to German E.ON. In return, Verbund gets E.ON´s hydro power plans in Bavaria.

Austrian Federal Competition Authority Approves Verbund´s Deal in Turkey / Picture: © Verbund AG

According to analysts, the deal between E.ON and Verbund has a volume of € 1.5bn. As part of the transaction, Verbund will sell its 50% interest in Enerjisa Enerji A.S. to E.ON and, in return, will acquire E.ON’s interest in eight run-of-river power plants in Germany with average pro rata annual generation of over 2 TWh. Prior to the transaction, Verbund has already held interests…

This article includes a total of 242 words.

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