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5 November 2007 - The mayor of Leipzig has recommended the bid submitted by Gaz de France (GdF) as a strategic partner in the call-for-tender process for the sale of a 49.9 per cent stake in the Leipzig Stadtwerke (SWL).
This transaction, worth a total of €520m ($753m), is subject to the approval of the Leipzig city council, which should hold its vote before the end of the year.
The Leipzig Stadtwerke is a public utility company responsible for the distribution and sale of electricity, natural gas and heat, in addition to related services in the city of Leipzig, in eastern Germany. It employs more than 2400 people and generated sales of €1.7bn in 2006.
Last year, it sold around 2.7 TWh of electricity, 1.8 TWh of natural gas, and 1.4 TWh of heat to more than 320 000 customers in Leipzig. SWL is also involved in the production of electricity from natural gas and biomass.
In addition, the SWL Group is pursuing a strategy aimed at developing its activities in Germany and in Poland, where it operates, in particular, the heating network in Gdansk.
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