VERBUND AG: Closing of the asset swap with E.ON


VERBUND, Austria’s leading electricity company, and E.ON, one of the world’s largest energy providers, finalised the asset swap that was signed on 3 December 2012. The closing of the agreements took place today, Wednesday, 24 April 2013.

Under this transaction, VERBUND is selling its 50% interest in the Turkish company Enerjisa Enerji A.S. to E.ON and in return is acquiring E.ON’s shares in eight run-of-river power plants in Germany with a proportionate annual generation of more than 2 TWh. VERBUND already directly or indirectly held equity interests and electricity purchase rights in the acquired run-of-river power plants. The power plants will be 100% owned by VERBUND after the transaction.

In addition, VERBUND is repurchasing 20.3% of the capacity of the Zemm-Ziller power plant group (237 GWh) in the course of the transaction. That corresponds to 60% of the electricity purchase rights of 33.8% agreed with E.ON in 2009.

VERBUND is improving its risk profile and balance sheet structure with this transaction and is increasing its flexibility in an overall higher-risk energy and general economic environment.

The transaction results in significant non-recurring effects in VERBUND’s consolidated financial statements. These will be presented in VERBUND’s half-year financial statements. As a result of the transaction, VERBUND will get a difference payment of around €400m, expected to flow to VERBUND in quarter 2/2013.


Andreas Wollein Andreas Wollein

Head of Group Finance, M&A and Investor Relations

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