VERBUND AG: Binding offer for the acquisition of a 51% stake in Gas Connect Austria GmbH
June 15, 2020 at 11:50 am EDT
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DGAP-Ad-hoc: VERBUND AG / Key word(s): Mergers & Acquisitions
VERBUND AG: Binding offer for the acquisition of a 51% stake in Gas Connect Austria GmbH
15-Jun-2020 / 17:47 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
On 12 March 2020, VERBUND AG ("VERBUND") issued insider information announcing that VERBUND was examining the financial and strategic aspects of a possible acquisition of OMV's 51% stake in Gas Connect Austria GmbH. After examining the proposal, the Executive Board of VERBUND has today decided to submit a binding offer to OMV for the acquisition of its 51% stake in Gas Connect Austria GmbH. The offer is subject to agreement between VERBUND and OMV on the transaction contracts and the approval of the Supervisory Board. The offer is otherwise confidential.
Contact:
Andreas Wollein
Head of Group Finance, M&A and Investor Relations
T.: +43 (0)5 03 13 - 52604
F.: +43 (0)5 03 13 - 52694
mailto:investor-relations@verbund.com
15-Jun-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
Verbund AG is Austria's leading producer and supplier of electricity. Net sales break down by activity as follows:
- production and sale of electricity (84.5%): 63.4 TWh sold in 2022 (of which primarily 30.7 TWh in Austria, 27.5 TWh in Germany and 4.4 TWh in France). At the end of 2022, the group had 163 hydraulic plants, 163 wind parks, 4 solar parks and 2 thermal plants;
- electricity transportation (12.7%): operation of a high-voltage electrical network of 6,959 km;
- other (2.8%): consult engineering, consulting, telecommunications and tourism services, etc.