A PYMNTS Company

Austria: Authorities green light $2B energy transaction

 |  January 11, 2013

Austria’s Federal Competition Authority has approved of a deal between two energy companies in a deal analysts estimate to be worth about $2 billion. Antitrust regulators have agreed to let energy group Verbund sell its portion of Turkish Enerjisa to Germany’s E.ON. Verbund receives E.ON’s hydro power plans in Bavaria in return. Verbund had already held some share in those hydro power plants but the transaction will give 100 percent to Verbund, which has announced plans to focus on run-of-river power in the future.

Full Content: FriedlNews

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.