EQS-Adhoc: Planned acquisition of WTE Wassertechnik GmbH by STRABAG

Planned acquisition of WTE Wassertechnik GmbH by STRABAG

• Strategic expansion of portfolio to include integrated water management
• Acquisition of significant portions of the business in Europe and the Middle East
• Several approvals still pending, including from the STRABAG SE Supervisory Board and the antitrust authorities

The STRABAG Group plans to acquire all shares in Essen-based WTE Wassertechnik GmbH (WTE), thereby strategically expanding its portfolio to include integrated water management. The Management Board of STRABAG SE and the Executive Board of EVN AG (EVN) have just signed a term sheet with the aim of concluding a final contract by the end of February 2025 at the latest.

The planned acquisition is subject to final agreement over the transaction documents with EVN, the approval of the Supervisory Board of STRABAG SE as well as other official authorisations or third-party approvals, in particular antitrust approvals.

The transaction would cover significant parts of WTE’s European business as well as its business activities in the Middle East. The company’s projects in Budva, Zagreb and Prague are excluded from the transaction.

Key points of the transaction include a fixed purchase price payment in the amount of € 100,000,000.00 for the shares in WTE and the assumption of shareholder loans. EVN will continue to finance a significant portion of WTE’s construction and development projects in Kuwait and Bahrain even after the closing of the transaction and will bear most of the construction risk of these projects. The repayment of these loans is linked to project success (construction progress/project finalisation and payment receipt). EVN’s guarantees and warranties for the construction phase will also remain in place for these projects. STRABAG will assume all guarantees and warranties for the remaining business activities acquired from WTE, particularly in Europe.