Key Developments: Alpiq Holding AG (ALPH.S)
Latest Key Developments (Source: Significant Developments)
A2A SpA, Iren SpA, Delmi, EDF SA, Edison SpA and Alpiq Holding AG Comment on Contracts Relating to the Reorganization of Equity Investments in Edison SpA and Edipower
A2A SpA announced that on May 24, 2012, together with Iren SpA, in compliance with the agreements entered into on February 15, 2012, as subsequently amended on May 5, 2012, between A2A SpA, Delmi and EDF SA and between A2A SpA, Delmi, Edison SpA and Alpiq Holding AG, respectively: Delmi sold to WGRM Holding 4 SpA, a company 100% owned by EDF SA, 50% of Transalpina di Energia, owned by Delmi itself, for EUR 783,748,900, and Delmi purchased 70% of Edipower, 50% owned by Edison SpA and 20% owned by Alpiq Holding AG, for EUR 883,748,900. The aforementioned amount of EUR 783,748,900, paid for the sale of 50% of Transalpina di Energia, is subject to a downward adjustment by an amount not exceeding EUR 25,100,000, in relation to the results of the mandatory tender offer promoted by EDF SpA for Edison SpA's ordinary shares. Full Article
A2A SpA, Delmi, EDF SA, Edison SpA and Alpiq Holding AG Sign Final Contracts Relating to the Reorganization of Equity Investments in Edison SpA and Edipower
A2A SpA announced that on February 15, 2012, A2A SpA, Delmi, EDF SA, Edison SpA and Alpiq Holding AG have signed the final contracts provided for by the preliminary agreement dated December 26, 2011 relating to the reorganization of the equity investments in Edison SpA and Edipower. In particular: A2A SpA subsidiary Delmi purchases a 70% stake in Edipower from Edison (50%) and Alpiq Holding AG (20%) for a total price of EUR 804 million; EDF SA purchases from Delmi a 50% stake in Transalpina di Energia Srl, a company in which it already owns the remaining 50%, and which, in turn, holds 61.3% of Edison SpA’s voting share capital, for a price of EUR 704 million. The basic elements of a contract for the supply of gas by Edison SpA to Edipower were also agreed upon, and this contract will cover 50% of Edipower’s needs for a six-year period at market conditions. Closing will have to take place within 20 working days from the occurrence of the conditions precedent and in any case no later than June 30, 2012. Indeed, the entire transaction is subject to a confirmation by Consob stating that the price of the compulsory takeover bid following the acquisition of control of Edison SpA by EDF SA is not higher than EUR 0.84 per share. The transaction is also subject to approval by the competent Antitrust authority. Full Article
Alpiq Holding AG announced details of the job cuts in Switzerland which was communicated at the beginning of November 2011 as part of the comprehensive restructuring program. The Company plans to shed 170 jobs in Switzerland, 130 of which in the form of redundancies. This move affects in particular the energy trading area and staff as well as support functions. Full Article
PRAGUE, July 19 - Czech company PURS, the only remaining bidder for two Czech coal-fired co-generation power plants put up for sale by Swiss energy group Alpiq, has quit the tender, a partner in PURS said on Friday.