Alpiq sells its stake in Repower to the canton of Graubünden and Axpo
Alpiq is selling its stake in Repower in equal parts to the other two principal shareholders, the canton of Graubünden and Axpo
The purchasers are not planning to hold the acquired shares in Repower permanently. The aim instead is to sell the majority of these shares to a new strategic partner in the short to medium term. The sale to the canton of Graubünden and Axpo is scheduled for completion in the first quarter of 2013, subject to the requisite approval from the authorities.
The disposal of this financial holding will not affect Alpiq's substantial engagement in the canton of Graubünden, and in particular Alpiq's energy services. The long-established cooperation between the canton of Graubünden and Alpiq will continue to be pursued in the future.
The sale of the stake in Repower is a further step in the ongoing restructuring programme through which Alpiq is aiming to reduce net debt by CHF 1.5 to 2.0 billion. Additional divestments are under preparation.
Alpiq Holding Ltd.
Since its foundation in 2009, Alpiq Holding Ltd. has been the leading energy trader and service provider in Switzerland with European reach. The Group is active in Switzerland and Europe and in 2011 generated consolidated annual revenue of around CHF 14 billion. Alpiq specialises in electricity generation, sales and trading, as well as energy services, and is responsible for around one-third of Switzerland's electricity supplies.
More information on Alpiq: www.alpiq.com