Dresden City Council gives go-ahead to Vattenfall ENSO deal

Dresden’s City Council yesterday gave the go-ahead for EnergieVerbund Dresden GmbH (EVD) to acquire a 21.3 per cent interest in ENSO, to date held by Vattenfall. This was earlier announced on April 13 and is in line with the continued implementation of Vattenfall’s new Group strategy.

The City Council of Dresden, capital of theGermanStateofSaxony, yesterday gave the go-ahead for acquisition by EnergieVerbund Dresden GmbH (EVD) of a 21.3% interest in Energieversorgung Sachsen Ost AG (ENSO), to date held by Vattenfall.

The City ofDresden, through Technische Werke Dresden GmbH and EnergieVerbund Dresden GmbH, has thereby raised its shareholding in this East German utility company from 50.7% to 72%. The acquisition price is € 147 million. The agreement additionally grants EVD the option to acquire the Niederwartha pumped-storage power plant from Vattenfall. A decision on this matter is expected to be made in the course of the year.

With this move, Vattenfall has taken a further step in implementing its new Group strategy.

“By selling this holding, we are continuing to consistently implement our corporate strategy, one of its aims being to divest minority shareholdings”, emphasised Tuomo Hatakka, Chairman of the Vattenfall Management Board.

Vattenfall discloses the information provided herein pursuant to the Swedish Securities Market Act.

For further information, please contact:
Steffen Herrmann
Press Officer
Vattenfall Europe AG
Tel: + 49 30-8182-2321

From Vattenfall's Press Office, Tel: +46 8 739 50 10, press@vattenfall.com.

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