E.ON CEO: Group not anxious over Turkish units

By bne IntelliNews August 9, 2017

E.ON’s businesses in Turkey are faring well, the German energy company’s chief executive Johannes Teyssen said on August 9, Reuters reported.

The energy group expects power demand in Turkey to rise and anticipates an environment in which the Enerjisa unit's distribution and generation businesses could be listed on the stock exchange, he added.

Enerjisa is a joint venture between Turkey's Sabanci Holding and E.ON. In March this year, Sabanci Holding announced that it had struck a deal with E.ON to restructure Enerjisa and its subsidiaries.

Given the different dynamics at play, they agreed to group the electricity distribution and retail companies under a parent company and the energy generation, energy wholesale and natural gas wholesale companies under another parent company.

Relations between Ankara and Berlin have badly deteriorated since last year’s failed coup attempt in Turkey and tension between the Turks and Germans markedly worsened last month when Turkey arrested several human rights activists, including a German citizen.

Reports in July described how Ankara had presented Berlin with a list of companies it was targeting for having suspected links to the coup attempt. But Turkey later withdrew this list.

As tensions escalated, Turkish Deputy PM Mehmet Simsek moved to assure German investors that their investments in Turkey were safe.

Turkey remains an open, liberal and investment-friendly country, Simsek told German weekly Der Spiegel in an interview published on July 29.

No German companies were being investigated as part of ongoing probes into suspected coup plotters, Simsek added.

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