Insider information: VERBUND sells 46%-stake in Poweo S.A. to Direct Energie

VERBUND - the biggest shareholder of POWEO S.A. - sells its 46%-stake in French alternative electricity supplier POWEO S.A. to co.

The sales price of about €36m corresponds approximately to the book value. The closing is set to take place before November 2011 after approval of the anti-trust authorities.

This transaction concludes VERBUND’s restructuring of its business activities on the French electricity market.

After this transaction, VERBUND operates one gas power plant with 412 MW in Pont-sur-Sambre/France and constructs the Toul gas power plant.

mpetitor Direct Energie.