Birka Energi restructures ownership of hydroelectric power

Birka Energi restructures ownership of hydroelectric power Birka Energi is selling its minority holdings in Korsselbränna, Dabbsjö, Bergvattnet's, Betsele, Hällforsen's, Storfinnsforsen's and Olden's hydroelectric power plants to majority shareholder Sydkraft. The transaction involves 365 GWh of power production (normal year) and is valued at SEK 867 million. "This is a way of reducing our passive ownership in plants we don't operate and it helps redefine our ownership structure as regards hydroelectric power", says Tomas Bruce, CEO of the Birka Energi Group. We also achieve a positive cash flow effect of just over SEK 800 million." This disposal affects Birka Energi's normal annual capacity by approximately 3 percent. Total production of Birka's 200 plus hydroelectric power plants was 12.4 TWh during 2000. For further information, please contact: Tomas Bruce, CEO, tel +46 8-671 79 60 or +46 70-316 14 14 Lars-Håkan Ellenius, CFO, tel +46 8-671 79 69 or +46 70-676 79 69 Merril Boman, Corporate Executive Vice President Communications, tel +46 8-671 79 51 or +46 70-590 79 75 ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2001/03/15/20010315BIT00610/bit0001.doc http://www.bit.se/bitonline/2001/03/15/20010315BIT00610/bit0001.pdf