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MarketScreener Homepage  >  Equities  >  Xetra  >  EnBW Energie Baden-Württemberg AG    EBK   DE0005220008

ENBW ENERGIE BADEN-WÜRTTEMBERG AG

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EnBW Seeks to Sell Minority Stakes in Hungary Power Firms - Report

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12/19/2012 | 04:32am EST

BUDAPEST--German energy utility Energie Baden-Wuerttemberg AG (>> Enbw Energie Baden Wuerttemberg AG) is seeking to sell minority stakes in Hungarian power firms, the Hungarian daily newspaper Nepszabadsag said Wednesday, without naming its sources.

EnBW has minority stakes of more than 20% in lignite power plant Matrai Eromu Zrt. and electricity distributors Elmu Nyrt. (ELMU.BU) and Emasz Nyrt. (EMASZ.BU). German utility firm RWE AG (>> RWE AG) owns more than half of all three companies.

EnBW recently spoke with potential buyers about the Matrai Eromu stake but the parties couldn't agree on the price, the newspaper said. Nepszabadsag didn't identify the would-be buyers.

The Hungarian unit of EnBW declined to comment on the report.

EnBW is seeking to unload its Hungarian stakes to raise funds for investment in renewable energy, Nepszabadsag said.

It could be a hard sell. The outlook for the power industry has deteriorated in Hungary because of the government's sector-specific tax policies.

Newspaper website: www.nol.hu

Write to the Budapest Bureau at budapest@dowjones.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

Stocks mentioned in the article : Enbw Energie Baden Wuerttemberg AG, RWE AG
Stocks mentioned in the article
ChangeLast1st jan.
ENBW ENERGIE BADEN-WÜRTTEMBERG AG 0.00% 56 Delayed Quote.91.78%
ESZAK-MAGYARORSZAGI ARAMSZOLGALTATO NYRT 0.00%End-of-day quote.0.00%
RWE AG -0.34% 26.11 Delayed Quote.38.10%
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