Alpiq Board of Directors approves sale of Edipower stake to Delmi
20 percent holding in energy company in Italy
- Alpiq intends to sell its 20 percent stake in Edipower S.p.A. of Italy to Delmi for EUR 200 million.
The Board of Directors of Alpiq Holding Ltd. has approved the sale to Delmi S.p.A. of the 20 percent stake in energy company Edipower S.p.A of Italy, at a price of EUR 200 million. The sale will take place within the framework of the transaction announced on 27 December 2011 by the parties involved in Edison and Edipower. Signing of the agreements is scheduled for mid-February 2012, and the closing will follow a few months later.
The planned sale of the Edipower stake is part of the restructuring programme announced by the Alpiq Group on 4 November 2011. Alpiq intends to reduce net debt by around CHF 1.5 to 2.0 billion through divestments and by concentrating investments.
About Alpiq Holding Ltd.
Alpiq: Roots in Switzerland - active throughout Europe
Alpiq Holding Ltd. is the leading energy trader and service provider in Switzerland, with European reach. The Alpiq Group was created in early 2009 as a result of the merger between the two energy pioneers Atel Holding Ltd. and Energie Ouest Suisse SA (EOS). Active in Switzerland and Europe, it has subsidiaries in more than 20 countries and in 2010 generated consolidated annual revenue of around CHF 14 billion. Alpiq specialises in electricity generation and transmission, sales and trading, as well as energy services, and is responsible for around one-third of Switzerland's electricity supplies.