On 4 April 2019, following the approval from their respective governance bodies, EDF, EBM (Coopérative Elektra Birseck) and EOS (EOS Holding SA) signed an agreement on EDF’s disposal of its stake in Swiss power producer Alpiq (representing 25.04% of the company’s capital and voting rights) to EBM and EOS (each entity acquiring half of this stake).
This transaction values EDF's stake in Alpiq at circa CHF 489 million (circa EUR 436 million(1)), based on a purchase price of CHF 70 per Alpiq share. The Shares Purchase Agreement includes potential earn out mechanisms.
The acquisition by EBM and EOS will be financed through mandatory exchangeable loans in Alpiq’s shares raised from CSA Energy Infrastructure Switzerland, a fund managed by Credit Suisse Energy Infrastructure Partners.
Completion of the transaction is subject to the approval by the German competition authority and is expected to occur by end of H1 2019.
(1) Based on an exchange rate of CHF 1 for EUR 0.8915 as of 4 April 2019
Analysts and investors
+33 (0) 1 40 42 40 38