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.
[email protected] pkl/cmr
COPYRIGHT
Copyright AFX News Limited 2007. All rights reserved.
http://www.hemscott.com/news/latest-news/item.do?newsId=48082158970345
This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.