AUSTRIA: DETAILS OF VERBUND, ESTAG DEAL

Article Abstract:

The merger of the power generation and marketing activities of Energie Steiermark AG (EStAG) and Verbund in Styria creates a power supplier with up to 620,000 final customers. It is estimated that synergies in grid operation will allow a 10% reduction of electricity prices. In 2000 Estag and Verbund had been in cooperation talks with the Upper Austrian Energie AG. Such a deal was, however, hindered by the Verbund shareholders, the regional power companies EVN , Wiener Stadtwerke and Tiwag . It is considered possible that Energie AG and the Carinthian power company Kelag will join the Styrian deal later on. Both companies are to be partly privatised. Verbund points out that the cooperation with Estag does not mean that the big power company has settled on Electricite de France (EdF) as a long-term partner. The French company holds a 25% stake in Estag.

Joint ventures

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Austria: Estag buys stake in Graz Airport

Article Abstract:

The Austrian energy company Energie Steiermark (Estag) has bought a 25% stake in Graz Airport for EUR 14.5mn. The money will go into the province of Styria's tourism budget.

Asset sales & divestitures, Acquisitions & mergers, Gas Utilities, Natural Gas Distribution, TRANSPORTATION BY AIR, Airports, flying fields, & services, Air Transportation, Air Terminal Services, Other Airport Operations, Airports, Airport Operations, Gas Production and Distribution, Air transportation industry, Civil aviation, Airport terminal services

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