EPH has completed the transaction for the purchase of Vattenfall’s German lignite activities
30. 9. 2016
Energetický a průmyslový holding, a.s. (EPH) and its non-operational financial partner PPF Investments Ltd. (PPFI) today confirmed the conclusion of the acquisition of Vattenfall’s lignite activities in Germany. The constituting Board is scheduled for October 11.
The new company will be headquartered in Cottbus and will be operated by current management.
With more than 8,000 employees and an installed capacity of 8,000 MW, the new company is the second largest lignite operator in Germany with opencast mines in Jänschwalde, Welzow-Süd, Nochten and Reichwalde as well as the power generation plants Jänschwalde, Schwarze Pumpe, Boxberg and one block in Lippendorf in the Mitteldeutsche Braunkohlerevier.
As new owners, EPH and PPFI have committed to waiving dividends for the next years to come.
For EPH, the acquisition is an important step in extending its successful presence and long-standing expertise in the region. Through its subsidiary MIBRAG, EPH has operated as a highly reliable owner and employer in Saxony and Saxony-Anhalt since 2009 and has shown a track record of best practice in recultivation.
Energetický a průmyslový holding (EPH) is a leading Central European energy group that owns and operates assets in the Czech Republic, the Slovak Republic, Germany, Italy, the UK, Hungary and Poland. EPH is a vertically integrated energy utility covering the complete value chain ranging from highly efficient cogeneration, power generation, and natural gas transmission, gas storage, gas and electricity distribution and supply.