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Provider: Reuters Investment Profile
Provider: GlobalData
Provider: GlobalData
Provider: GlobalData

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TerniEnergia SpA Announces Acquisition of 50% EnergiaAlternativa Srl

Thursday, 28 Mar 2013 11:01am EDT 

TerniEnergia SpA announced that it has signed an agreement with EDF EN Italia, which provides for the transfer operated by this latter to TerniEnergia of the share equal to 50% of the share capital of EnergiaAlternativa Srl. EnergiaAlternativa Srl owns 12 industrial sized photovoltaic plants for a total capacity of 13.9 MWp. The value of assets shall be determined according to the algebraic sum of the Enterprise Value, related to 100% of the JV, amounted to EUR 54.3 million, and the value of the net adjusted financial position resulting from the financial statements of a company from the effective date of the transfer. The price of the portion of TerniEnergia will be , therefore, equal to 50% of that value. The parties have developed a simulation of the purchase price on the basis of a forecasted situation as at December 31, 2012, which shows a counter value of approximately EUR 6.8 million. The final price will be also defined following the approval of the financial statements of Energia Alternativa Srl. 

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