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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 Could Increase MVV Stake By 7.4% In September

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02/29/2012 | 10:50am EDT

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

Stocks mentioned in the article : Energie Baden-Wuerttemberg AG, MVV Energie AG
Stocks mentioned in the article
ChangeLast1st jan.
ENBW ENERGIE BADEN-WÜRTTEMBERG AG 1.35% 45.2 Delayed Quote.-10.50%
MVV ENERGIE AG 1.59% 25.5 Delayed Quote.-6.59%
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Managers
NameTitle
Frank Mastiaux Chief Executive Officer
Lutz Peter Feldmann Chairman-Supervisory Board
Thomas Andreas Kusterer Chief Financial Officer
Hans-Josef Zimmer Chief Technical Officer
Dietrich Herd Deputy Chairman-Supervisory Board
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ENBW ENERGIE BADEN-WÜRTTEMBERG AG-10.50%13 394
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SEMPRA ENERGY-20.04%35 418
E.ON SE-3.76%26 499
ENGIE-31.61%26 349