HEW and Mirant Sign Shareholders Agreement on Bewag
HEW and Mirant Sign Shareholders Agreement on Bewag HEW today signed a shareholders' agreement with Mirant on joint ownership of the Berlin energy company Bewag. The agreement is one step in the creation the new constellation "Neue Kraft" in the German electricity market. Vattenfall's German subsidiary Hamburgische Electricitäts-Werke AG (HEW) and U.S. owned Mirant Holdings Beteiligungsgesellschaft mbH (Mirant) today signed an agreement on joint ownership of the energy company Bewag in Berlin. HEW and Mirant intend to keep equal shares in Bewag and to exercise all rights resulting from their shares in a coordinated manner. Following the conclusion of the agreement, each party will hold 44.76 % of Bewag's capital stock (46.05 % of voting rights). HEW and Mirant undertook to always hold equal shares in Bewag's capital stock and voting rights, and to always exercise their voting rights as shareholders together and in conformity with the Agreement. This agreement is fully in line with the Joint Declaration regarding the Establishment of a Fourth Force in the German Energy Sector, signed by Vattenfall, Mirant, HEW and the Berlin city government on 27 April 2001. Issued by Vattenfall's Press Office, telephone +46 8 739 50 10. For further information please contact: Karl-Erik Olsson, Press Director, Vattenfall, tel: 08-739 75 83, 070-538 81 38. Vattenfall's vision is to be a leading European energy company. The Nordic region, Poland and Germany are its domestic markets. Today, Vattenfall generates power and supplies energy solutions to several million customers in the Nordic region and northern Europe. The largest electricity customers are industrial plants and energy companies. Vattenfall's main products are electricity, heat and natural gas, as well as network, consulting and maintenance services. The Group's net sales in 2001 are calculated to around SEK 70 billion. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2001/08/14/20040817BIT21620/wkr0001.pdf