"RWE Energy and E.ON have agreed to swap their equity stakes in Czech and Hungarian gas distributors, the firms said in a joint statement. They said E.ON would get stakes in two Czech gas distribution firms and one in Hungary. RWE will get stakes in four Czech distribution firms and one in Hungary.
"This will bring a new composition of the companies' holdings in the two countries, which will lead to a clearer ownership structure in the Czech and Hungarian gas industry," they said.
E.ON will receive a 46.7 percent stake in Czech Jihoceska Plynarenska , raising its stake there to 60 percent.
It will also take a 49.3 percent stake in Prague distributor Prazska Plynarenska , and also raise its stake in a holding owning the majority in Prazska to 49 from 25 percent.
RWE Energy will get a 14.3 percent stake in Stredoceska Plynarenska , raising its stake there to 96.4 percent, a 16.5 percent stake in Vychodoceska Plynarenska , raising its stake to 66.6 percent, a 9.6 percent stake in Severomoravska Plynarenska , raising its stake to 67.7 percent, and later on a 47.9 percent stake in Zapadoceska Plynarenska , raising its stake to 98 percent.
In Hungary, the local E.ON unit will get a 49.9 percent stake Del-dunantuli Gazszolgaltato (DDGaz), raising its stake to 99.9 percent.
In exchange, RWE will receive a 16.4 percent stake in the Budapest distributor Fovarosi Gazmuvek (FOGAZ), raising its stake there to 49.9 percent.
The swap will take place after regulatory approval."
Source: Reuters
23.02.2006