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Hemscott: EVN-led consortium to purchase Shell’s 25 pct stake in oil and gas producer RG

VIENNA (Thomson Financial) – EVN AG said that Rohoelaufsuchungs Beteiligungsgesellschaft AG (RBG), which is majority-owned by EVN, has signed an agreement with Shell Petroleum N.V and Shell Petroleum Company to purchase Shell’s EP Holding GmBH, whose sole asset is a 25 pct equity holding in the Rohoel-Aufsuchungs AG (RAG).

EVN holds a 50.05 pct stake in RBG, while E.ON Ruhrgas E&P GmbH holds 29.95 pct, Salzburg AG holds 10 pct and Steirische Gas-Waerme GmbH also possesses a 10 pct stake.

The RAG deal is subject to merger control clearance and is expected to complete in late 2007 or early 2008 following appropriate regulatory approvals, according to a Shell press release.

The parties have agreed not to disclose the financial terms of the transaction.

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