German energy company EnBW Energie Baden-Wurttemberg has increased its share in the Austrian company EVN from 13.2% to almost 30%.

Karlsruhe-based EnBW, which is the third-largest energy company in Germany, revealed its move in a notice sent to the stock exchange in Vienna. The additional share purchase was allowed to go ahead following the approval by both the German and Austrian antitrust authorities.

EVN is a leading Austrian energy and infrastructure services group which generated annual sales of around E1 billion. The company’s core business areas are electricity, gas, heating, water, thermal waste management and related services.

We see our increased stake in EVN as a long-term involvement and are very positive about both EVN and Austria as a whole. Both EVN and Austria are extremely attractive for the energy industry. As a strategic investor, we want to contribute more of our expertise in the industry in positive discussions with EVN, said Dr Amir Ghoreishi, EnBW’s head of corporate strategy and M&A.