Verbund Faces Competition from Russia

Business › n.a. ♦ Published: March 20, 2012; 15:17 ♦ (Vindobona)

The Russian energy group Inter Rao is interested in the Milan-based Sorgenia. Austrian Verbund holds 45% in Sorgenia.

Verbund Faces Competition from Russia / Picture: © Vindobona.org

According to the Milan newspaper „Corriere della Sera“, Inter Rao made an offer to enter Sorgenia. Inofficial talks are held since months. Sorgenia, which was founded in 1999, is a 45% subsidiary of Austrian Verbund. The Italian CIR has a 52% stake.

The offer made by Inter Rao is “interesting”, advisors of Verbund say. The Austrian energy company has engaged the Milan…

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