Enovos Luxembourg S.A. Takes Over the Sales Activities of BKW in Germany

Oct 26, 2010, 11:30 ET from Enovos Luxembourg S.A.

STRASSEN, Luxembourg, October 26, 2010 /PRNewswire/ -- Enovos Luxembourg S.A. and Swiss energy company BKW FMB Energie AG have signed a takeover agreement for the sales activities of German subsidiary BKW Deutschland GmbH. The partners' shares will be transferred on 1.1.2011.

"We are pleased to have gained an attractive customer base from this business expansion that will enable us to strengthen and expand our position in the B2B segment of the German electricity market. Thus we are able to offer our customers intelligent and customized energy products and services on a nationwide basis, "said Jean Lucius, CEO of Enovos Luxembourg S.A..

Dr. Hans-Martin Huber-Ditzel, Managing Director of BKW Deutschland GmbH, was also delighted with the deal: "With Enovos Luxembourg S.A., we have found an independent and strong new owner with whom we can successfully pursue our growth strategy."

"The disposal of the sales business enables BKW to focus its activities in Germany on the expansion of production and trading," says Samuel Leupold, a member of the Board of BKW Energie AG, in an explanation of the reasons behind the sale.

Working closely with Enovos Deutschland AG, Enovos Group is continually expanding its German operations in the areas of electricity and natural gas in accordance with its corporate strategy to provide its customers with dual-fuel offers on a nationwide basis. Through the purchase of the BKW sales activities in Germany, Enovos Group also gains around 30 employees and doubles its electricity sales to a total of 8 TWh.

The transaction is subject to final approval of the Federal Cartel Office.

Enovos Luxembourg S.A., a 100% subsidiary of Enovos International S.A.

Enovos International S.A. is - as a group - a newcomer in the energy sector, headquartered in Luxembourg, arising from the combination of three strong traditional, regionally embedded companies formerly named Soteg, Cegedel & Saar Ferngas. Enovos International S.A. is the holding company in charge of energy generator and distributor Enovos Luxembourg S.A. and grid company Creos Luxembourg S.A., with each operating their German subsidiaries, respectively.

Close to 800 employees supply about 180,000 customers with electricity and gas via 7,500 km electricity lines and 3,000 km of gas pipelines. Alongside its traditional and core business, the company develops substantially its activities in the renewable energies. The group of five companies has a 1.5 billion euros turnover.

A 28.3% stake of Enovos International S.A. is owned by the Luxembourg government and 10.8% by the state-owned investment bank S.N.C.I.. ArcelorMittal owns 25.3%, RWE 19.8%, E.ON 10.8% and Electrabel 5.1%.

BKW Group, one of Switzerland's most important energy companies

BKW Group reported revenue of CHF 3,593 million in 2009 and is one of Switzerland's most important energy companies. It employs more than 2,800 people and is active in all stages of energy supply. In Switzerland, BKW supplies more than 1 million people with electricity.

The power plant park comprises hydropower, thermal production from nuclear energy and gas and new renewable energy sources. It is the goal of BKW in the coming years to strengthen its position as Switzerland's leading wind energy producer and to build a wind portfolio of approx. 750 MW, of which almost half in Germany. In addition, from mid-2012 the coal-fired power plant in Wilhelmshaven - in which BKW has a stake of 33% or 240 MW - will go into operation.

BKW has a presence in all major European energy trading markets and actively manages its flexible power plant park.

The share capital of CHF 132 million is largely owned by the Canton of Bern (52.54%). The remaining interests are: Groupe E AG (10.0%), E.ON Energie AG (7.03%), BKW FMB Energie AG (9.99% own holdings) and others (20.44%, free float).


SOURCE Enovos Luxembourg S.A.