EDF signs an agreement with Macquarie for the sale of its 25% stake in Energie Steiermark AG (ESTAG)

EDF and Macquarie Infrastructure and Real Assets have signed an agreement for the sale of the 25% stake of EDF International SAS in Energie Steiermark AG (ESTAG) to Macquarie European Infrastructure Fund IV (MEIF4), a specialist infrastructure fund focused on long-term investments.

ESTAG is the fourth largest energy distribution company in Austria. Based in the Land of Styria, ESTAG operates in the distribution and sale of electricity, gas and heat as well as in energy related services.

The transaction is subject to the relevant antitrust and Austrian Foreign Investment Control clearance. Closing of the transaction, expected during second semester of 2015, also requires approval by the Land of Styria, ESTAG’s controlling shareholder, as well as the signing of a new shareholders’ agreement between Macquarie and the Land of Styria.