VERBUND, Austria's leading electricity company and one of
the leading
producers of electricity from hydropower in Europe, has in
the past years
established a diversified portfolio of shareholdings in
Austria and abroad
and has been evaluating measures to improve this portfolio
on an on-going
basis. In the framework of such improvement measures VERBUND
is in
discussion with an open outcome with other market
participants, amongst
others, in relation to VERBUND's interest in Turkey. Subject
matter of such
discussions is the assessment of several options which range
from a
disposal of a shareholding to an acquisition of further
shareholdings or
the further development of an existing shareholding. An
assessment of these
options will be made according to strategic and economic
criteria. As in
past instances VERBUND will inform the public accordingly
should an option
become more specific.
VERBUND pursues the strategy to strengthen its position as
one of the
leading producers of electricity from hydropower in Europe. The
production
portfolio is supplemented by wind power and existing thermal
plants.
Minority shareholdings are tested in relation to their
strategic fit. Most
important markets are Austria and Germany, with the
countries situated
between Austria and Turkey offering growth opportunities.
Adjustments of the shareholding portfolio which have already
occurred are
the exit from the retail business in France and the disposal
of minority
interests in non-strategic shareholdings, such as the
Gletscherbahnen
Kaprun and the local service provider Energie Klagenfurt.