Verbund and Energie Steiermark (Estag) have reached an agreement under which Verbund would sell the minority interest of 34.57% of the distribution company Steweag-Steg to its parent company Estag and in return would purchase an approx. 14.7% interest of Steweag-Steg in Verbund Thermal Power GmbH & Co KG and an approx. 14% interest of Estag in Verbund Thermal Power GmbH.
The sale of the minority interest and the changes in interest at Verbund Thermal Power will result in a net cash inflow of 250 mn euros for Verbund. The cash inflow is expected in quarter 1/2013.
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Verbund sells interest in Steweag-Steg to Energie Steiermark
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