15 January 2009 THE TRANSACTION IN ČESKÁ LÍPA IS COMPLETE
Českolipské teplo a.s. (a subsidiary of MVV Energie CZ a.s.) today became owner of the heat supply infrastructure in the town of Česká Lípa. The acquisition of a majority interest in the company along with the heat station assets has thus been completed and ČESKOLIPSKÁ TEPLÁRENSKÁ a.s. is a full member of the MVV Energie CZ group.
On 15 January the transaction was completed between the town of Česká Lípa and the MVV Energie CZ concern, shareholders in ČESKOLIPSKÁ TEPLÁRENSKÁ a.s. As of this date the company is fully part of the MVV Energie CZ group.
On Thursday the company’s General Meeting also took place, at which new Articles of Association were approved and Oldřich Panc elected the third member of the Team of advisors. This Team, which is a three-member consultative body, is now complete. The town of Česká Lípa put up Oldřich Panc as third member, who used to sit on the company’s Supervisory Board. Mr Panc joins Jiří Kladníček and Ladislav Záruba, who were elected by the General Meeting at the end of last year.
The General Meeting also saw the election of members to the Supervisory Board. The new members are the Deputy Mayor Jan Stejskal, who used to sit on the company’s Board of Directors, and Libor Žížala on the side of the majority shareholder. Václav Hrach remains the third member of the Supervisory Board. “We are meeting our obligations to the town and implementing everything we agreed to prior to the transaction. We intend to continue taking this approach,” said Václav Hrach, commenting on the General Meeting.
With completion of the entire transaction MVV Energie CZ has increased its holding from the current 35% to a majority 94.99%. The town of Česká Lípa holds the remaining 5.01% of shares. Completion of this transaction has increased the anticipated annual revenues of the MVV Energie CZ Group by almost 10%.
The company ČESKOLIPSKÁ TEPLÁRENSKÁ, a.s. was established by the town of Česká Lípa as sole founder in February 1996. ČESKOLIPSKÁ TEPLÁRENSKÁ a.s. supplies thermal energy and hot utility water to almost 11,000 households in Česká Lípa. It also supplies schools, local authorities, commercial centres and other parties in the town. A total of some 70% of the market for heating in the town is provided by district heating.
MVV Energie CZ a.s. was established on 6 October 1993 under the original name of EPS ČR s.r.o. Since 1999 it has been part of the large European energy group MVV Energie. Since then, under the management of MVV Energie CZ, an extensive group has been created in the Czech Republic, now numbering eleven subsidiaries with the expansion of operations in January 2007 in Mimoň, Louny and Litoměřice, and the acquisition of a 70% interest in Teplárna Liberec, a.s. At present the group operates in fifteen towns and cities of the Czech Republic, mainly in Moravia and North Bohemia, and supplies 76,000 households. The annual revenues of the MVV Energie CZ Group are CZK 2.3 billion.