Austrian OOe. Ferngas takes over bio-disctrict heating specialist

Dec 28, 2012 - Austrian gas supplier OOe. Ferngas AG said yesterday its subsidiary OOe. Gas-Waerme had bought 100% in Biowaerme B3 GmbH in a move to expand in the bio-district heating field.

With the deal, OOe. Gas-Waerme bought also 50% in B3 Energie GmbH and 75% in Biowaerme Garsten/St. Ulrich GmbH.

B3 was previously 60%-owned by Franz Hentschlaeger, while Alfred Hawel and Peter Gerlinger held 10% and 30%, respectively.

The company has total assets of some EUR 1.34 million (USD 1.8m) and a profit of around EUR 224,000. It operates nine sites in Upper Austria and has a heat potential of above 60 GWh.

According to Klaus Dorninger and Gerhard Zettler, managing directors of OOe. Gas-Waerme, the deal would allow the company to widen the synergy effects in the biomass sector.

The transaction was approved by the Austrian cartel authorities. The acquisition price was not disclosed.

(EUR 1 = USD 1.32)

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