Birka Energi sells Östernärkes Kraft

Birka Energi sells Östernärkes Kraft Birka Energi is selling its holding in the network operator Östernärkes Kraft AB to Sydkraft. Sydkraft already owns just over 52% of the capital (48.9 of the votes) in Östernärkes Kraft and is now buying Birka's share, amounting to 47% of the capital (50.3 of the votes), for SEK 78 million. Approximately 1% of the company is owned by other private investors. The sale is conditional upon the approval of the Board of Birka Energi. 1999 saw Birka Energi sell its holding in the electricity supplier Östernärkes Kraftförsäljning AB to Sydkraft, and it is now following up that deal by selling the energy network business with its approximately 8,000 customers. "Östernärkes Kraft's operations have been somewhat isolated outside Birka's unified network area, and it is only natural that we are involved in the restructuring currently underway," says Bo Englund, Director of Business Development for Birka Energi's network business. For further information contact Bo Englund, Director of Business Development, Birka Nät AB, tel. +46 (0)54 55 84 10 or +46 (0)70 654 11 96 Merril Boman, Executive Vice President Communications, Birka Energi AB, tel. +46 (0)8 671 7951 or +46 (0)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/2000/10/30/20001030BIT00910/bit0001.doc http://www.bit.se/bitonline/2000/10/30/20001030BIT00910/bit0002.pdf