Press Release, Berlin

German Energy Agency acquires shares of private shareholders

The Deutsche Energie-Agentur (dena) – the German Energy Agency – is retroactively acquiring the company shares held by its private shareholders, Deutsche Bank AG, DZ BANK AG and Allianz SE, with effect from 1 January 2017.

The announcement was made by dena following a meeting of its Supervisory Board on 4 July in Berlin. The Federal Government, represented by the Federal Ministry for Economic Affairs and Energy, the Federal Ministry of Food and Agriculture, the Federal Ministry for the Environment, Nature Conservation, Building and Nuclear Safety, and the Federal Ministry of Transport and Digital Infrastructure, will continue to be dena's voting shareholders, along with the KfW Group.

Citing the reasons for the change of shareholders, Iris Gleicke, Chair of dena's Supervisory Board and Parliamentary Undersecretary at the Federal Ministry for Economic Affairs, explains, 'On behalf of dena's management, I'd like to thank our former private shareholders and their delegates in the Supervisory Board, Dr Tessen von Heydebreck, Dr Armin Sandhövel and Mr Stefan Zeidler most sincerely for their constructive work. The Federal Government wants to make greater and more immediate use of dena's expertise in the future to promote the energy transition. The new share ownership structure provides a good basis for this. To achieve the energy transition targets, the Federal Government needs a strong national energy agency to act as a competent and flexible adviser to government departments and to provide support in dialogue with industry and other stakeholders nationally and internationally.'

In the course of the acquisition of the private shareholders' shares, the articles of association were updated to include explicit mention of participation in the energy transition as a corporate goal. Meanwhile, dena will continue to collaborate as a market player with the energy industry, and also promote the energy transition within this role.

Andreas Kuhlmann, Chief Executive of dena, emphasises, 'Cooperation with the private shareholders has provided dena with a good deal of impetus in its commercial development. It was always highly constructive, and also very helpful for me personally in the last two years. The changes in share structure will alter nothing of substance in terms of the new direction that dena has now taken. dena will remain committed in the future to its involvement in the debate around the shaping of the energy transition. The tasks ahead of us to ensure a successful energy transition are many and varied. In changing the share structure, the shareholders also want to lay the foundations that will enable dena to assume an even more important role in this in the future. I welcome this wholeheartedly. Energy transition can only succeed through the close cooperation of policymakers and industry. So dena will continue working on this particular interface and will be active in all areas of energy transition.'

In the course of the acquisition of shares from the private shareholders, the articles of association will also change. 'I'm glad that climate protection will also be explicitly mentioned in these as a corporate goal. This is entirely in keeping with the way that dena has been orientating its work and projects for some considerable time, and is therefore an amendment that has been long overdue,' says Andreas Kuhlmann.

Background

dena was established in 2000 as a private limited liability company predominantly federally owned. With around 200 staff, it generated a revenue of 20.1 million euros in 2016. Its shareholders are the Federal Republic of Germany, represented by the Federal Ministry for Economic Affairs and Energy, the Federal Ministry of Food and Agriculture, the Federal Ministry for the Environment, Nature Conservation, Building and Nuclear Safety, and the Federal Ministry of Transport and Digital Infrastructure, along with the KfW Group. The private shareholders had owned an eight per cent share in dena since January 2008. The current private shareholder members from Deutsche Bank AG, DZ BANK AG and Allianz SE, will be stepping down from the Supervisory Board.

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