Sweden's foremost energy group VATTENFALL is to pay $1.63 bn to the American firm MIRANT for its 44.8% stake in BEWAG (annual turnover of 2 bn euro with 2.2 million end-customers)enabling it to create Germany's third largest electricity company. Indeed, with 89.6% of the capital and 92% of voting rights in BEWAG, the Swedish firm may now pool the German electricity firm with its subsidiary HEW and the latter's subsidiaries, VIAG and LAUBAG. The new entity, momentarily called NEUE KRAFT, will be operational in 2003 with a turnover of some 5.5 bn euro and 24,000 employees. This operation puts an end to a conflict lasting several moths over the control of BEWAG, so far jointly controlled by MIRANT and VATTENFALL, each with 44.8% of the shares.