Tue May 21, 2013 12:29pm EDT

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EDF enters into exclusivity with EPH for the sale of its 49% stake in Stredoslovenská Energetika a.s. (SSE)

EDF announces it has entered into an exclusivity agreement with Energetický a prumyslový holding, a.s. (EPH), a leading Czech-based Central and Eastern Europe energy company, for the disposal of EDF's minority stake of 49% in Stredoslovenská Energetika a.s. (SSE), the second largest electricity distribution and supply operator in Slovakia.

The contemplated transaction values the 49% stake of EDF in SSE at approximately €400 million. EDF acquired 49% of SSE for €160 million through a partial privatization procedure in 2002. Since then, EDF has contributed to the significant improvement and development of the operations of the company, in a cooperative partnership with the majority shareholder of SSE, state-owned National Property Fund (NPF).

Upon the execution of a definitive acquisition agreement, which is expected to take place in coming days, the contemplated transaction will be submitted for authorization to a general meeting of shareholders of SSE. Closing is expected during second semester of 2013 following receipt of antitrust clearance.

EDF remains a key player in the sector in Central and Eastern Europe, in particular in Poland where EDF is the third largest player in terms of generation capacity.

Stredoslovenská Energetika, a.s. is a power distribution and energy supply company operating in central Slovakia in the province of Zilina, serving about a third of the country's area. At 31 December 2012 SSE owned nearly 33,400 km of high, medium and low-voltage power lines, and had supplied 4,852GWh to about 630,000 customers during the year. SSE also owns some small generation assets in solar and hydro, as well as a 50MW gas turbine. Headquartered in Žilina, SSE has approximately 1,700 employees.

EDF group, one of the leaders in the European energy market, is an integrated energy company active in all areas of the business: generation, transmission, distribution, energy supply and trading. The Group is the leading electricity producer in Europe. In France, it has mainly nuclear and hydropower generation facilities where 95.9% of the electricity output is CO2-free
EDF's transmission and distribution subsidiaries in France operate 1,285,000 km of low and medium voltage overhead and underground electricity lines and around 100,000 km of high and very high voltage networks. The Group is involved in supplying energy and services to approximately 28.6 million customers in France. The Group generated consolidated sales of €72.7 billion in 2012, of which 46.2% outside of France. EDF is listed on the Paris Stock Exchange and is a member of the CAC 40 index.

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