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23.10.2014
Today the Bundeskartellamt has cleared the acquisition of a further 15.79% of the shares in VNG AG, Leipzig, by EWE AG, Oldenburg. EWE AG acquired the shares from Wintershall Holding GmbH, Kassel. EWE AG will now hold a total of 63.69% of the shares in VNG and gain sole control of the company under merger control law.
Andreas Mundt, President of the Bundeskartellamt: "The merger project could be cleared due to the positive development of competition in the gas sector. In view of the recent developments in the gas sector, the markets at the wholesale level have merged and can be defined as national markets. Only the market for household customers in the so-called basic supply sector must still be defined as a local or regional market.”
EWE AG is an energy supplier active in the supply of electricity, gas and water mainly in the Ems/Weser/Elbe region, in east Brandenburg and on Rügen Island. It is the largest German gas distribution network operator with the highest number of household customers. In 2013 EWE AG's sales revenue was about 8.9 billion euros, of which more than 90% was achieved in Germany.
VNG is a gas transmission company which is active throughout the new German federal states. Its activities focus mainly on the import, trade, transport and storage of natural gas. Via its subsidiary ONTRAS the company operates the gas transmission network in the east German federal states which covers more than 7,200 kilometres. VNG is also active in the production of natural gas in Norway, Denmark as well as in five other European countries. In 2013 VNG's sales revenue amounted to approx. 11 billion euros, of which more than 80% was accounted for by sales in Germany.
In the course of its merger control proceedings and following intensive investigations the Bundeskartellamt took into consideration new developments in the gas markets and changed its practice of defining these markets which, in some cases, had been applied for decades. The authority has reached the following conclusions:
A diagram illustrating the new product market definition applied by the Bundeskartellamt in the gas sector is available at the Bundeskartellamt's website.