Milan, 28 december 2015 – Following the press release of 26 October 2015, it is announced that the deed for the non-proportional partial demerger of Edipower S.p.A. (“Edipower”) was signed today.
As a result of the transaction, Cellina Energy S.r.l., a company entirely owned by Società Elettrica Altoatesina – SEL S.p.A. (“SEL”), is assigned the compendium made up of the hydroelectric plants owned by Edipower constituting the so-called "Nucleo di Udine", together with the active and passive legal relations connected to them, with the exception of the Ampezzo and Somplago hydroelectric plants and the structures pertaining to them, and cash for 38.5 million euros, subject to prior acquisition by SEL, which owns a stake in Edipower amounting to 8.54% of the share capital, of the remaining shareholdings owned in Edipower by Soci Finanziari Banca Popolare di Milano S.c.a.r.l., Fondazione Cassa di Risparmio di Torino and Mediobanca - Banca di Credito
Finanziario S.p.A., amounting to 11.96% of the share capital.
The demerger will be effective as of January 1, 2016, it is foreseen an adjustment mechanism, based on the balance sheet of the compendium as of December 31, 2015. Following the demerger, the share capital of Edipower will be entirely owned by A2A S.p.A..
The operation is consistent with A2A’s Business Plan goals in thermoelectric generation industry, aiming at shareholding simplification, operating costs rationalization and integration opportunities.