Energetick\u00fd a pr\u016fmyslov\u00fd holding, a.s. (\u201cEPH\u201d) announces that its subsidiary EP Slovakia BV (\u201cEP Slovakia\u201d) today signed a contract with the company Enel Produzione S.p.A. (\u201cEnel Produzione\u201d), a subsidiary of Enel S.p.A., for the sale of the stake held by Enel Produzione in Slovensk\u00e9 elektr\u00e1rne, a.s. (\u201cSlovensk\u00e9 elektr\u00e1rne\u201d), equal to 66% of the latter\u2019s share capital.<\/p>\n
The sale will be executed by way of a transfer of Enel Produzione\u2019s entire stake in Slovensk\u00e9 elektr\u00e1rne to a newly established company (\u201cHoldCo\u201d), and the eventual sale to EP Slovakia of 100% of the share capital of the HoldCo. This sale of HoldCo to EP Slovakia is due to be implemented in two phases.<\/p>\n
1. In the first phase, Enel Produzione will sell 50% of the HoldCo\u2019s share capital to EP Slovakia for 375 million euros, of which 150 million euros will be paid upon the closing of the first phase, and 225 million euros will be paid upon the closing of the second phase. The amount could vary subject to the application of the adjustment mechanism, as described below.<\/p>\n
2. In the second phase, a put or a call option can be exercised respectively by Enel Produzione or by EP Slovakia, exercisable 12 months after receiving the Trial Operation Permit of units 3 and 4 of the Mochovce nuclear power plant, which are currently under construction. Upon exercise of either option, Enel Produzione would transfer the remaining 50% of the HoldCo\u2019s share capital to EP Slovakia for 375 million euros. Payment will be due at the time of the closing of the sale and the consideration is subject to the application of the adjustment mechanism described below. The closing of the second phase is subject to obtaining the Final Operation Permit for Mochovce\u2019s units 3 and 4.<\/p>\n
The total consideration payable over the two phases, equal to 750 million euros, is subject to an adjustment mechanism. Any adjustment will be calculated by independent experts and applied upon completion of the second phase on the basis of a set of parameters, including the evolution of the net financial position of Slovensk\u00e9 elektr\u00e1rne, developments in energy prices in the Slovak market, operating efficiency levels at Slovensk\u00e9 elektr\u00e1rne as measured against benchmarks specified in the agreement, and the enterprise value of units 3 and 4 of Mochovce.<\/p>\n
The transaction is also subject to clearance from the European Union\u2019s antitrust authorities.<\/p>\n","protected":false},"excerpt":{"rendered":"
Energetick\u00fd a pr\u016fmyslov\u00fd holding, a.s. (\u201cEPH\u201d) announces that its subsidiary EP Slovakia BV (\u201cEP Slovakia\u201d) today signed a contract with the company Enel Produzione S.p.A. (\u201cEnel Produzione\u201d), a subsidiary of Enel S.p.A., for the sale of the stake held by Enel Produzione in Slovensk\u00e9 elektr\u00e1rne, a.s. (\u201cSlovensk\u00e9 elektr\u00e1rne\u201d), equal to 66% of the latter\u2019s share capital. The sale will be executed by way of a transfer of Enel Produzione\u2019s entire […]<\/p>\n","protected":false},"featured_media":0,"template":"","meta":{"_expiration-date-status":"","_expiration-date":0,"_expiration-date-type":"","_expiration-date-categories":[],"_expiration-date-options":[]},"tax-year":[16],"acf":[],"wpml_current_locale":"en_US","wpml_translations":[{"locale":"cs_CZ","id":12347,"post_title":"EPH a Enel podepsaly dohodu o prodeji 66% akci\u00ed spole\u010dnosti Slovensk\u00e9 elektr\u00e1rne","href":"https:\/\/eph23.atelierzidlicky.eu\/eph-enel-podepsaly-dohodu-o-prodeji-66-akcii-spolecnosti-slovenske-elektrarne\/"}],"_links":{"self":[{"href":"https:\/\/eph23.atelierzidlicky.eu\/en\/wp-json\/wp\/v2\/press-releases\/12348"}],"collection":[{"href":"https:\/\/eph23.atelierzidlicky.eu\/en\/wp-json\/wp\/v2\/press-releases"}],"about":[{"href":"https:\/\/eph23.atelierzidlicky.eu\/en\/wp-json\/wp\/v2\/types\/press-releases"}],"wp:attachment":[{"href":"https:\/\/eph23.atelierzidlicky.eu\/en\/wp-json\/wp\/v2\/media?parent=12348"}],"wp:term":[{"taxonomy":"tax-year","embeddable":true,"href":"https:\/\/eph23.atelierzidlicky.eu\/en\/wp-json\/wp\/v2\/tax-year?post=12348"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}