EP ENERGY completes the acquisition of the MIBRAG
The transaction involving the acquisition of a 50% equity stake in JTSD Braunkohlebergbau GmbH, which EP ENERGY has bought from Severočeské doly in the ČEZ Group, was closed today. JTSD is the sole shareholder of MIBRAG. EP ENERGY has thus become the 100% owner of MIBRAG, which operates 2 brown coal mines, 3 conventional cogeneration plants and a wind farm in Germany.
“The acquisition of MIBRAG is part of our long-term strategic plan to boost our activities in the German energy sector. This step helps to pursue the strategy of EP Energy’s vertical integration, i.e., covering the whole value chain from extraction to energy generation and supply to end customers,” said Jan Špringl, CEO and member of the Board of Directors of EP ENERGY.
This transaction has followed up on the closing of the sale of a 100% interest in ENERGOTRANS, a.s., to ČEZ, which took place yesterday, 28 June 2012. Thus, ENERGOTRANS is now wholly owned by ČEZ, a.s.
The required approvals were obtained from the relevant antimonopoly authorities prior to the finalisation of the two transactions.
MIBRAG is the third largest mining company in Germany. It extracts coal in the central German coal basin south of Leipzig, where it operates two open-cast coal mines, Profen and Vereinigten Schleenhain, with a total annual production of brown coal of 20 million tonnes. The reserves under the existing mining licence hold approximately 500 million tonnes of coal.
MIBRAG also owns three cogeneration plants at Deuben, Mumsdorf and Wählitz having a total installed electrical capacity of 208 MW.
A MIBRAG subsidiary operates a 6.9 MW wind farm in Schleenhain and is preparing a further expansion of its RES capacities.
EP ENERGY is a vertically integrated energy utility covering the complete value chain from coal extraction to combined heat and power generation to electricity and gas supply for final customers.
ENERGETICKÝ A PRŮMYSLOVÝ HOLDING (EPH) is the sole owner of EP ENERGY. The shareholders of EPH are PPF (40%), J&T (40%) and Daniel Křetínský (20%).