Energie Steiermark buys Verbund's stake in Steweag-Steg.
Verbund will sell its stake of 34.57% in Steweag-Steg to Energie Steiermark and in return will get a 15% stake held by Steweag-Steg in Verbund Thermal Power GmbH and about 14% owned by Energie Steiermark in Verbund Thermal Power GmbH.
After closing the deal, Verbund will control 80% and Energie Steiermark 20% in Verbund Thermal Power.
All transactions are pending regulatory approval.
The transactions at Steweag-Steg and Verbund Thermal Power will lead to a net cash inflow of EUR 250 million (USD 327.3m) for Verbund.
(EUR 1.0 = USD 1.309)
|Printer friendly Cite/link Email Feedback|
|Date:||Dec 4, 2012|
|Previous Article:||Austrian OMV may buy German RWE's stake in Nabucco pipeline - report.|
|Next Article:||Austrian Verbund to offset 2012 Turkey invetsments via cash from asset swap with E.on.|