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1DUS-0403-97001-01-07_E.pptMergers&AcquisitionsintheGermanEnergyIndustry–CaseStudy–RolandBergerFrankfurt,May19th,2001Mergers&AcquisitionsintheGermanEnergyIndustry|May19,20012DUS-0403-97001-01-07_E.pptContentPageA.Mergers&Acquisitionsintheenergyindustry–Dealsareincreasingrapidly3B.Thewaytoasuccessfulmerger–Inthreestepsfromtheconceptualizationtotheimplementation7C.CasestudyRWEAG–Mergerforms3rd.powerinEuropeanUtilityIndustry13AnnexRolandBerger–LeadingTopManagementConsultancywithstrongCompetenceCenterUtilities193DUS-0403-97001-01-07_E.pptA.Mergers&Acquisitionsintheenergyindustry–Dealsareincreasingrapidly4DUS-0403-97001-01-07_E.pptBenefitsofmergersBenefitsofmergers•Improvingprofitpotentialandopportunitiesforgrowth•Makingcompaniesmorecompetitiveinthelong-term•Betterandlessexpensiveproductsbymoreinnovationandefficiency•FastentryintonewgeographicregionsPressurecausedbyderegulationPressurecausedbyderegulationEnergyIndustryNewcompetitorsPricedeclineMarkettrans-parencyCostpressureMergersaretheresponsetoachangingenergyenvironment–MaindriversarederegulationprocessesSource:RolandBerger5DUS-0403-97001-01-07_E.pptSource:SDCNumberofM&Adealsintheutilityindustryincrease–In2000mergersworldwidewereworth460bndollarsVolumeofcompleteddealsworldwide[US$bn]19951996199719981999200066.6104.4248.7459.2+590%317.1178.56DUS-0403-97001-01-07_E.pptBidder:AguasdelosAndesS.A.(ES)Target:Endesa(CL)Bidvalue:2.1bn$Year:1999Bidder:AguasdelosAndesS.A.(ES)Target:Endesa(CL)Bidvalue:2.1bn$Year:1999Source:RolandBergerM&Adealshelppositioninginthehomemarketanden-ableindirectmarketentriesintonewgeographicregionsGlobalmergersintheenergyindustryBidder:RWEAG(Ger)Target:VEWAG(Ger)Bidvalue:3.8bn$Year:2000Bidder:RWEAG(Ger)Target:VEWAG(Ger)Bidvalue:3.8bn$Year:2000Bidder:SuezLyonnaisedesEaux(F)Target:TractebelS.A.(B)Bidvalue:7.9bn$Year:1999Bidder:SuezLyonnaisedesEaux(F)Target:TractebelS.A.(B)Bidvalue:7.9bn$Year:1999Bidder:VebaAG(Ger)Target:ViagAG(Ger)Bidvalue:16.3bn$Year:1999Bidder:VebaAG(Ger)Target:ViagAG(Ger)Bidvalue:16.3bn$Year:1999Bidder:AESCorp.(US)Target:NationalPowerDraxLtd.(UK)Bidvalue:3.0bn$Year:1999Bidder:AESCorp.(US)Target:NationalPowerDraxLtd.(UK)Bidvalue:3.0bn$Year:19997DUS-0403-97001-01-07_E.pptB.Thewaytoasuccessfulmerger–Inthreestepsfromtheconceptualizationtotheimplementation8DUS-0403-97001-01-07_E.pptConceptualizationConceptualizationOperationalizationOperationalization•Developmentofcorporateconcept•Definitionofaprofessionalprojectmanagement•Designofmergerschedule•Detailingandascertainmentofcorporateconcept•Retainofprojectorgani-zation•Re-adjustmentofstructureandtaskfocusofprojectteams•Preparationofoperativelaunch•CreationofimplementationrequirementsImplementationImplementationSource:RolandBergerMergers&Acquisitions–Inthreestepstoasuccessfulmerger1239DUS-0403-97001-01-07_E.pptDevelopmentofcorporateconceptDevelopmentofcorporateconceptDefinitionofaprofessionalprojectmana-gementDefinitionofaprofessionalprojectmana-gementDesignofmergerscheduleDesignofmergerschedule•Identificationofsynergy-andgrowthpotentialofthecorefunctions•Supportofthepositioningintheliberalizedutilitymarkets•ImplementationofcorporatevisionSource:RolandBerger•Compositionof:–Steeringcommittee(jointboardmeeting)–Coreteam–Projectoffice–Operativeprojectteams•Definitionofsubstantialmilestones–Passingofcorporateconcept...