Vattenfall Divests German Engineering Consultancy
'With the sale of VPC, Vattenfall consistently continues to deliver on its consolidation since 2009 as a reaction to the difficult market conditions in the energy sector'
Vattenfall has agreed to sell its German engineering consultancy Vattenfall Europe Power Consultant GmbH (VPC) to palero capital GmbH (Palero). Completion is expected during the first quarter 2014. The parties have agreed not to disclose the purchase price.
The engineering consultancy is a non-core business for Vattenfall and the divestment of VPC is a continuation of the consolidation strategy. In March 2011, Vattenfall sold parts of its Swedish engineering consultancy business to Pöyry PLC.
'With the sale of VPC, Vattenfall consistently continues to deliver on its consolidation since 2009 as a reaction to the difficult market conditions in the energy sector,' says Tuomo Hatakka, Head of Region Continental/UK.
Vattenfall Europe Consultant East with its business seat in Belgrade, Serbia, and Lausitzer Analytik GmbH will also be acquired by Palero.
VPC has a total of 535 employees of which 200 work in the main office in Vetschau. Employees also work in other VPC offices, among them, Berlin, Leipzig, Dresden and Hamburg
Vattenfall discloses this information pursuant to the Swedish Securities Market Act.
Vattenfall is a Swedish owned energy company with operations in Sweden, Germany, the Netherlands, Denmark, UK, France and Finland. Vattenfall's vision is to create a strong and diversified European energy portfolio and to be among the leaders in developing an environmentally sustainable energy system.