First State Investments buys 45.1% interest in MVV Energie

First State Investments, EnBW Energie Baden-Württemberg AG and RheinEnergie AG have signed an agreement on the sale of 45.1% share in MVV Energie AG. First State Investments will acquire the interest for EUR753 million (US$816.8 million).

MVV Energie is a publicly listed company based in Mannheim and one of Germany's energy suppliers, operating in both Germany and Europe. The value chain of MVV Energie AG covers generation, trading, distribution via proprietary grids, energy sales and other innovative energy-related services.

The sale process has been run in coordination with MVV Energie AG and the city of Mannheim, which will remain the majority shareholder of MVV Energie AG.

The completion of the share purchase agreement and the takeover offer is subject to required regulatory approvals. The shares of MVV Energie AG shall remain listed on the Prime Standard of the Frankfurt Stock Exchange after the completion of the share purchase agreement and the takeover offer.