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EnBW bought a 6.28% stake in MVV Energie from ENGIE

20 Mar 2017

The German utility company EnBW announced it acquired a 6.28% stake in MVV Energie from ENGIE. This acquisition increases its own shareholding to 28.76%.

With the newly acquired stakes, EnBW shareholding level will increase to the standard of a qualified minority. The main shareholder of MVV Energie remains the city of Mannheim with a stake of 50.1%.

EnBW acquired its first shares in MVV Energie AG back in 2004 (15.05%) and a further 7.4% of the shares in 7.4%. Before the March 2017 transaction, EnBW held a 22.48% share.

The purchase price has not been disclosed yet and the acquisition is still subject to the approval of the German Cartel Office (Bundeskartellamt).

 


 

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