Deal involves 765 MW in nuclear capacity
By Stephen Heiser
Following the agreements reached last December, EDF will, at the end of January, acquire a 25% holding in the new Swiss energy company, ALPIQ Holding SA, resulting from the combination of the activities of Swiss energy companies ATEL and EOS.
The total value of the transaction for EDF will be 1,057 million Swiss francs (or approximately €705 million*). In order to finance the transaction, EDF will provide ALPIQ Holding SA with its energy rights from its 50% stake in the Emosson dam, located on the French-Swiss border, valued at 720 million Swiss francs (or approximately €480 million*). The balance of 337 million Swiss francs (or approximately €225 million*) will be paid in cash.
EDF, which was already an ATEL Holding SA shareholder, will now be the international partner of reference in ALPIQ Holding SA, alongside two large Swiss shareholders – Romansch energy company EOS Holding and CSM, a consortium of Atel’s long-time Swiss-German and Ticino shareholders. ALPIQ Holding SA will have a hydraulic generation capacity in Switzerland of some 3000 MW, as well as 765 MW in nuclear capacity. With 10,000 employees and a presence in several European countries, the new group will provide one third of Swiss energy and, as such, will become the country’s leading energy provider. This transaction is in line with EDF Group’s strategy which aims to strengthen its positions in Europe.