ENERGIE STEIERMARK withdraws from VERBUND Thermal Power

12/11/2013Graz

Energie Steiermark and VERBUND announce the withdrawal of Energie Steiermark from VERBUND Thermal Power.

Up until now Energie Steiermark has owned around 20% and VERBUND around 80% of shares of their joint subsidiaries. VERBUND will become the owner of more than 99% of the shares of VERBUND Thermal Power.

Within the framework of the restructuring of shareholdings, VERBUND for its part, has guaranteed the delivery of district heating until 2020 from the facility in Mellach to the district heating supply of the capital of Styria Graz, in compliance with the still valid contractual agreement.

Both companies have come to a mutual agreement on the organised withdrawal of Energie Steiermark from the joint subsidiary company VERBUND Thermal Power. Details of the transaction have not been divulged.