Press release | 2014-02-07 | 15:25 PM

Divestiture of electricity grid in Hamburg completed

The previously announced sale of Vattenfall’s 74.9% majority stake of the electricity grid company “Stromnetz Hamburg GmbH” to the City of Hamburg has today been completed.  

The equity value of the entire electricity grid company has preliminarily been agreed at EUR 550 million (approximately SEK 4.8 billion). A jointly appointed external valuation company will determine the final value of the company. However, both parties have agreed on a minimum value of EUR 495 million (approximately SEK 4.4 billion).

In addition to "Stromnetz Hamburg GmbH", the transaction also includes the traffic service company "Vattenfall Europe Verkehrsanlagen GmbH"), the Hamburg parts of the metering company "Vattenfall Europe Metering GmbH") and network services company "Vattenfall Europe Netzservice GmbH". The metering and the network services companies, will formally be transferred to the City of Hamburg no later than January 1, 2016.

For further information:
Vattenfall's Press Office
Phone : +46 8 739 50 10, email : press@vattenfall.com
Facebook : facebook.com / vattenfallpressrum , Twitter: twitter.com / Vattenfall_Se