Verbund completes strengthening of Poweo's ownership structure in France


In line with terms of the agreement announced on June 2, 2009, and after the completion of all necessary conditions, the sale in favour of Verbund of Poweo SA's shares held by Gravitation SAS, Charles Beigbeder and his family took place on Friday August 21, 2009. As a consequence, Verbund now owns 44.8 % of Poweo's share capital.

A further 25.2 % is held by the British investor Ecofin, 9.5 % are allotted to Luxembourg's Luxempart, 20.5 % is owned by diverse shareholders.

Following the transaction, Charles Beigbeder - up to now CEO of POWEO - continues to be available as president of the board of directors. CEO is Loic Caperan, former deputy managing director of EDF. September sees Erik Regter, hitherto managing director of the Verbund subsidiary VERBUND-International GmbH, moving to Paris as chief operating officer (COO).

Alongside hitherto existing members Christian Kern (director for international business) and Erik Regter, Verbund will delegate a further two members to the board of directors of POWEO GmbH.