EQS-Ad-hoc: EVN AG / Key word(s): Investment/Disposal
EVN AG: EVN and STRABAG agree on key terms for the possible sale of WTE
10-Dec-2024 / 15:07 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the
Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS
Group AG.
The issuer is solely responsible for the content of this announcement.
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The Management Board of EVN AG (EVN and, together with its consolidated
subsidiaries, EVN Group) and the Management Board of STRABAG SE (STRABAG
and, together with its consolidated subsidiaries, STRABAG Group) have just
reached an agreement on key terms of a potential sale of all shares in WTE
Wassertechnik GmbH (WTE), which bundles significant parts of EVN Group's
international project business in the environmental sector, to STRABAG
Group (the proposed transaction).
The proposed transaction is subject to an agreement on binding transaction
documents, receipt of all necessary approvals, the consent of third
parties and the fulfilment of customary conditions for completion, in
particular merger control and investment control approvals. Signing of the
transaction documents is envisaged for the end of February 2025.
The proposed transaction is expected to include significant parts of WTE's
European business as well as its business activities in the Middle East.
The projects in Budva, Zagreb and Prague, which have already been
operationally completed, are excluded from the scope of the proposed
transaction. With respect to the projects in Kuwait and Bahrain, which are
still under construction and are yet to be completed, a significant part
of the financing will remain with EVN, whereby the repayment would
primarily be contingent upon the progress of construction and the
completion of these projects. Furthermore, a significant part of the
associated guarantees will remain with EVN. Conversely, going forward, EVN
will continue to be entitled to participate in the results of the projects
in Kuwait and Bahrain that are currently under construction.
The proposed transaction provides for a purchase price of EUR 100 million;
no significant impact on EVN's results for the financial year 2024/2025 is
expected. At the same time, EVN's risk profile in the environmental
segment would be reduced going forward. The proposed transaction supports
EVN's focus on its core business in line with the implementation of its
Strategy 2030.
Contact:
Gerald Reidinger
Head of Controlling and Investor Relations
Phone: +43 2236 200-12698
E-mail: investor.relations@evn.at
Stefan Zach
Head of Information and Communication
Phone: +43 2236 200-12294
E-mail: stefan.zach@evn.at
End of Inside Information
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10-Dec-2024 CET/CEST News transmitted by EQS Group AG. www.eqs.com
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Language: English
Company: EVN AG
EVN Platz
2344 Maria Enzersdorf
Austria
Phone: +43-2236-200-12294
E-mail: info@evn.at
Internet: www.evn.at
ISIN: AT0000741053
WKN: 074105
Indices: ATX
Listed: Vienna Stock Exchange (Official Market)
EQS News ID: 2048215
End of Announcement EQS News Service
2048215 10-Dec-2024 CET/CEST
