Verbund CEO dismisses exit plans from Turkey.

By bne IntelliNews September 28, 2012
Reuters reported that Wolfgang Anzengruber, CEO of Austrias largest utility Verbund, told Austrian daily Kurier that the company currently has no plans to exit from Turkey. Verbund plans to inject an additional EUR 500mn into Enerjisa by 2015 to help finance 12 ongoing hydropower plant projects, Anzengruber said. Verbund agreed with its local partner Sabanci Holding to inject a USD 1.4bn in Enerjisa and Verbund has already injected a USD 900mn, according to Anzengruber. Please note that media reports have been recently speculating that Verbund planned to sell its 50% stake in Turkeys second largest non-state power producer Enerjisa, Verbunds 50-50 JV with local Sabanci Holding; however, Anzengruber insistently dismisses the speculations. Earlier this week, Bloomberg reported that Verbund AG planned to transfer its 50% stake in Enerjisa to German power company EON AG in exchange for EONs some power plants in Germany and the deal was expected to be signed next month, quoting unnamed people familiar with the situation.

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