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Germany’s EWE talks possible sale of assets in Turkey (Exclusive)

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Baku, Azerbaijan, Aug. 10

By Ilkin Shafiyev – Trend:

The decision of German energy company EWE about the possible sale of its assets in Turkey is related to the optimization of the company's activity, EWE told Trend Aug. 10.

Presently, the German giant is represented in Turkey by its subsidiary EWE Turkey Holding A.S.

“In the past 10 years, EWE has built up valuable companies in Turkey, which are able to manage investments entirely on their own,” EWE said. “Nevertheless, EWE regularly reviews whether all current measures ensure sustainable growth for the Group in the defined future areas.”

“Therefore, we conducted a market investigation for our Turkey business,” the company said. “We noticed that there are some interested parties for this business. If a prospective customer wants to continue this business and offers us an acceptable price, EWE will divest this business.”

At the same time, the company did not comment on the information about negotiations with potential buyers.

The German giant EWE AG is preparing to withdraw from Turkey’s energy market and to sell its shares in gas distribution companies Bursagaz AS and Kayserigaz AS, Trend earlier reported citing the Turkish media.

The management of EWE Turkey Holding has already held a number of meetings with potential buyers. Azerbaijan’s state oil company SOCAR was among them.

The price of the German company's shares in the gas distribution companies in Bursa and Kayseri proposed for sale is $200-250 million. EWE owns a total of 80 percent of the shares of Bursagaz AS and Kayserigaz AS; the remaining 10 percent belong to the Calik Enerji Sanayi ve Ticaret A.S. and the corresponding municipalities.

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Follow the author on Twitter: @IlkinShafiyev

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