Graninge acquires electricity sales operations in Avesta

Graninge acquires electricity sales operations in Avesta Graninge AB has purchased the shares in AB Avesta Energi from Birka Energi. The acquired company conducts electricity sales to more than 13,000 customers. The transfer of ownership will take place on 1 February this year. The purchase price is MSEK 18. No employees will be affected by the acquisition. The company's network operations were previously sold to Vattenfall Sveanät, while Birka has retained district heating and power production. Lars Enslöf, Managing Director of Graninge, commented that the acquisition of Avesta will provide a valuable contribution to Graninge's customer base: "Our ambition is to continuing pursuing acquisition-driven growth. Graninge has reaped ongoing success in the deregulated electricity market, not least thanks to our green environmental profile. Furthermore, our efficient administrative routines will enable us to take good care of the customers in Avesta. For additional information, contact: Lars Enslöf, Managing Director and CEO, Graninge, +46 8 753 5004 Lars Molde, Managing Director of Energy Markets, Graninge, +46 8 753 5024 Kalle Karlsson, Corporate Communications Director, Graninge, +46 8 753 6860 ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2002/01/17/20020117BIT00170/bit0002.doc http://www.waymaker.net/bitonline/2002/01/17/20020117BIT00170/bit0002.pdf