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BKW takes further step in implementation of its strategy
Bern (ots) - BKW is planning to transfer its shareholding in swissgrid to a wholly-owned subsidiary. As part of a minority shareholding, CSA Energy-Infrastructure Switzerland, an investment group exclusively for Swiss pension funds managed by Credit Suisse Energy Infrastructure Partners AG, intends to acquire a 49.9 per cent stake in this subsidiary. BKW also aims to transfer its loan receivables from swissgrid as part of the same transaction. The planned transaction will increase BKW's financial flexibility, enabling it to effectively develop new fields of business. In this way it will support the company's strategic realignment to become an integrated energy and infrastructure service provider.
Both the transfer of BKW's shareholding in swissgrid to a subsidiary managed by BKW, and the minority stake of CSA Energy-Infrastructure Switzerland in this company are being conducted in line with legal and statutory restrictions and agreements laid down in the articles of association. BKW holds a 12.6% stake in swissgrid.
The statements contained in this press release constitute expectations and forward-looking statements. Because these statements are subject to risks and uncertainties, actual future results may differ materially from those expressed or implied by the expectations and statements. This press release is issued in German, French and English. The German version is authoritative.
The BKW Group is a major Swiss energy company. It employs more than 3,000 staff, supplies around a million people with electricity together with its partners and covers all stages of the energy supply process, from energy production and trading to transmission and sales. In addition to energy supply, BKW also develops, implements and operates integrated energy solutions for private and corporate customers, energy supply companies and local authorities. It is also committed to research programmes aimed at developing innovative technologies for sustainable and secure energy supply.
CSA Energy-Infrastructure Switzerland
CSA Energy-Infrastructure Switzerland is an investment group of the Credit Suisse Investment Foundation ("CSA") and invests exclusively in Swiss energy infrastructure. It focuses on investment in the capital-intensive areas of existing Swiss energy infrastructure. It is also involved in new building projects which already have the requisite authorisations. The investment group is aimed exclusively at Swiss pension funds.
Credit Suisse Energy Infrastructure Partners AG Credit Suisse Energy Infrastructure Partners AG ("CSEIP") is a joint venture between Credit Suisse AG and The Advisory House AG, a consultancy firm specialising in the European energy sector. CSEIP acts as an investment manager for the investment group CSA Energy-Infrastructure Switzerland. The CSEIP brings together Credit Suisse's expertise in asset management and the sector-specific know-how and industry network of The Advisory House.
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