DGAP-News: BayWa AG / Key word(s): Acquisition BayWa extends the reach of its wind power business to Austria and Eastern Europe 23.08.2011 / 08:56 --------------------------------------------------------------------- BayWa extends the reach of its wind power business to Austria and Eastern Europe Munich-based BayWa AG continues to expand its international operations by extending the reach of its activities in the field of renewable energies to Austria and Eastern Europe: It has taken over Ecowind GmbH (Austria), a company which develops and builds wind power projects in Bulgaria, Poland, Romania, Slovakia, Croatia and Austria, through its wholly-owned subsidiary BayWa r.e. The seller is AAG Holding GmbH, Kilb/St. Pölten (Austria), which principally owns companies in the agriculture sector. As owner-managed AAG Holding intends to focus on its competences in the agriculture industry, a share of 90 percent in Ecowind GmbH was sold to BayWa r.e for EUR 4.6 million (unencumbered by net financial debt) with retrospective effect as per 30 June 2011. Ecowind GmbH is a strategically important add-on to BayWa r.e's current activities which comprise a number of different subsidiaries operating internationally as project developers and traders in the fields of biogas, solar and wind power. Ecowind GmbH has a number of wind power projects under development with a total peak power of around 400 megawatts in Austria and the aforementioned eastern European countries. Together with BayWa r.e as it is financially strong partner, it can now make swift headway with implementation and growth. This new investment will enable BayWa to participate in the huge potential of onshore wind power in Eastern Europe. Experts anticipate that the capacity of wind energy in Eastern Europe will grow by more than one gigawatt a year through to 2020. Eastern Europe currently has an installed wind power capacity of around three gigawatts. Contact: Marion Danneboom, BayWa AG, Head of PR/Corporate Communication, tel. +49 (0)89/92 22-36 80, Fax +49 (0)89/92 22-36 98, e-mail: marion.danneboom@baywa.de End of Corporate News --------------------------------------------------------------------- 23.08.2011 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: BayWa AG ArabellastraÃe 4 81925 München Germany Phone: 089/ 9222-3691 Fax: 089/ 9222-3698 E-mail: presse@baywa.de Internet: www.baywa.de ISIN: DE0005194062, DE0005194005, WKN: 519406, 519400, Listed: Regulierter Markt in Frankfurt (Prime Standard), München; Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover, Stuttgart End of News DGAP News-Service --------------------------------------------------------------------- 136570 23.08.2011
DGAP-News: BayWa extends the reach of its wind power business to Austria and Eastern Europe
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