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BKW sells its sales company in Germany
Readjustment of BKW activities in Germany
Bern (ots) - BKW FMB Energy Ltd (BKW) is focusing its activities in Germany on expanding production and on trading, and has sold its sales company to Luxembourg-based power supplier Enovos Luxembourg S.A. The shares will be transferred with effect from 1 January 2011. The transaction is subject to final approval by Germany's Federal Cartel Office. The parties have agreed not disclose the purchase price. In future, BKW will be concentrating its business activities in Germany on electricity production and electricity trading. The aim is to further reinforce BKW's position as a leading Swiss producer of wind power over the next few years, and to build up a international wind power portfolio of around 750 MW, of which close to 50% will be in Germany. In addition, the coal-fired power plant in Wilhelmshaven, in which BKW has a 33% stake (corresponding to 240 MW), will go into operation mid-2012. The new owner of the sales company in Germany will be Enovos Luxembourg S.A. Enovos' strategic intention is to expand its hitherto regional sales business and offer German customers electricity as well as gas. The acquisition will boost Enovos' presence in this market. Accordingly, Enevos intends to take over the existing management team and keep on BKW employees at the current location. About BKW With sales of CHF 3,592 million in 2009, BKW FMB Energy Ltd (BKW) is one of Switzerland's leading energy providers. It employs around 2,800 staff and supplies power to more than one million people in German- and French-speaking Switzerland, either directly or indirectly via its distribution partners, In Switzerland BKW's power production portfolio consists of hydro power, nuclear power and new renewable energy facilities (wind and sun), supplemented by plants in Germany and Italy. Asset management is carried out by trading operations across Europe. Since 2001, BKW has operated a sales company in Germany. BKW Energie GmbH (a wholly-owned BKW subsidiary) delivers electricity to industrial customers and resellers. In 2009 the company sold around 3.7 TWh of electricity. It has a workforce of close to 30. Further information: www.bkw-fmb.ch About Enovos Enovos Luxembourg S.A. is a fully-owned subsidiary of Enovos International S.A. Enovos International S.A. is a new energy supplier headquartered in Luxembourg. The Group was created from the merger of three large regional companies: Cegedel, Soteg and Saar Ferngas. Enovos International S.A. is the operational holding company responsible for the power generation and distribution company Enovos Luxembourg S.A. as well as the grid company Creos Luxembourg S.A, each of which have a subsidiary in Germany. Around 800 employees deliver electricity and gas to roughly 180,000 customers over 7,500 kilometers of electricity lines and 3,000 kilometers of gas pipelines. Over and above its core business, the company is pursing significant expansion in the field of renewable energies. The group, consisting of five companies, posts annual revenues of EUR 1.5 billion. The Grand Duchy of Luxembourg and the state investment company S.N.C.I. have a 28.3% and 10.8% share of the capital respectively. ArcelorMittal holds a 25.3% stake, RWE 19.8%, E.ON 10.8% and Electrabel 5.1%. Further information: www.enovos.eu Contact: Antonio Sommavilla 031/3305107 email@example.com