Utility Energie Baden-Wuerttemberg AG (>> Energie Baden-Wuerttemberg AG) could increase its stake in municipal utility MVV Energie AG (MVV1.XE) in September when an option to buy a further 7.4% arises, an EnBW spokesman told Dow Jones Energy Daily Wednesday, but would likely only do so if there were an investor interested in acquiring it.
In a relative performance swap deal with Barclays Bank, EnBW stands to exercise an option to buy the 7.4% stake, augmenting its existing stake of 15.05%.
But EnBW has long considered divesting its existing stake and would likely only buy the 7.4% if it made the overall share package more interesting to an outside investor.
"It could be in this case that the additional 7.4% makes the share package more attractive for an investor," the spokesman said.
"We don't want to increase our MVV stake long term," he said.
-By Florian Bamberg; Dow Jones Energy Daily; +49 69 29725501