The European Energy Exchange (EEX) has acquired the remaining 12.3 per cent shareholding in French based Powernext from 3GRT and EDF. In doing so, EEX becomes the sole owner of Powernext with immediate effect.
All parties involved in the transfer are confident that the new shareholder structure of Powernext will bring strategic synergies, while maintaining the close cooperation between the former partner shareholders and will therefore support the further growth of Powernext to the benefit of its clients and stakeholders. As members of the board, both 3GRT and EDF will continue to play an important role in the ongoing development of the company.
Dr Tobias Paulun (pictured), EEX Chief Strategy Officer, says: “While EEX will hold 100 per cent of Powernext’s shares, the strategically important cooperation with 3GRT and EDF will continue with both companies being represented on the board of Powernext.”
Peter Reitz, Chief Executive Officer of EEX, says: “EEX and Powernext have been long-standing partners for many years. We have a shared history and have achieved a lot together, most notably the creation of EPEX SPOT, the PEGAS platform which manages the group’s natural gas activities throughout Europe and the creation of EEX Group. With this transaction, together, we are taking another important step in the strategic development of EEX Group.”
Dr Egbert Laege, Powernext President, says: “Powernext and EEX have worked together in partnership for many years. We share the same set of values, and most importantly we share the same strategic vision for the future. This transaction enables us to move even closer forward in making our shared vision a reality.”
Powernext is a regulated market operating under the supervision of the French Financial Supervisory Authority AMF. It manages the natural gas activities of the EEX Group under the PEGAS platform throughout Europe and operates the National Registry for electricity guarantees of origin in France.
