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BKW Energie AG

E.ON sells its BKW stake to BKW and Groupe E

Bern (ots)

E.ON Energie AG is to sell its shareholding in BKW
FMB Energy Ltd (BKW). E.ON, BKW and Groupe E AG have agreed on the 
terms of repurchase/conditions of purchase. E.ON's rationale for 
selling the stake was a reassessment of its strategy. By buying back 
the shares, BKW will expand its strategic room for manoeuvre.
E.ON acquired its stake in BKW in two stages in 1997 and 1999. 
Following a reassessment of its strategy, E.ON has now decided to 
dispose of its entire holding in BKW. The sale will be carried out in
two phases. In a first step, BKW will acquire 8.9% of the shares and 
Groupe E 5.01%. At the same time, an option agreement with a term 
until September 2011 grants BKW the right to acquire the remaining 
stake of around 7 percent in a second phase. The purchase increases 
Groupe E's stake in BKW to 10 percent. For BKW, both the repurchase 
as well as the acquisition of shares under the option agreement will 
be at the same share price, around 11% below the average price over 
the past 60 days. BKW is to acquire the first tranche for CHF 304.3 
million or CHF 64.30 per share.
The share repurchase reinforces BKW's autonomy as a company, 
strengthens the existing cross-shareholding between BKW and Groupe E,
and will result in the existing partnership being stepped up. The 
transaction also provides BKW with new options for strategic further 
development.

Contact:

Antonio.sommavilla
antonio.sommavilla@bkw-fmb.ch
+41 (0)31 330 51 07

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Plus de actualités: BKW Energie AG