The association of municipal EWE shareholders decided at a private meeting to accept Energie Baden-Wurttemberg’s (EnBW) bid to acquire 26% of the shares in EWE.
In the tender process, EnBW had submitted a binding offer not subject to the condition precedent of board approval.
EnBW will acquire the 26% shareholding in EWE by purchasing existing shares and by means of a capital increase by cash subscription. The transaction volume is around E2 billion in total. The acquisition is subject to the approval of anti-trust authorities.
