MVV Energie working on several projects with investor First State

MVV Energie AG

10/12/2020 09:54

FRANKFURT, Dec 10 (Reuters) - German regional utility MVV
Energie  MVVGn.DE  is working on several projects with a new
shareholder, Australian infrastructure investor First State
Investments, Chief Executive Georg Mueller told journalists
after presenting full-year results.
    "But as you can imagine the COVID-19 crisis has delayed
efforts a bit," Mueller said on Thursday, adding it was still
too early to update investors on concrete projects.
    Earlier this year, First State Investments, a unit of
Mitsubishi UFJ Financial Group  8306.T , agreed to buy a 45.1%
stake in MVV Energie for 753 million euros ($911 million).
    The stake now stands at 45.8%, according to MVV Energie's
website, and has a value of 768 million euros based on the
group's current market valuation.
    ($1 = 0.8262 euros)

 (Reporting by Christoph Steitz; editing by Thomas Seythal)
 ((christoph.steitz@thomsonreuters.com; +49 30 220 133 647;))