Enel Update on EPH Stake Sale in Slovenske elektrarne
Enel SpA recently announced that its subsidiary Enel Produzione SpA, the company EP Slovakia BV and the Czech company Energeticky a prumyslovy
Enel SpA recently announced that its subsidiary Enel Produzione SpA, the company EP Slovakia BV and the Czech company Energeticky a prumyslovy holding as signed a new agreement that modifies some of the terms and conditions of the contract signed on December 18th, 2015 between Enel Produzione and EPH and concerning the sale of the stake held by Enel Produzione in Slovenske elektrarne as.
As announced on December 18th, 2015 and on July 28th, 2016, the Contract provided for the contribution to the newly established company Slovak Power Holding BV of the entire stake held by Enel Produzione in Slovenské elektrárne, equal to 66% of the latter’s capital, and governs the subsequent sale in two stages to EP Slovakia BV of 100% of HoldCo for a total consideration of 750 million euros, subject to adjustment based on a set of criteria.
Based on the new agreement, Enel Produzione and EPH implemented a number of amendments to the Contract, which regard the financial support provided to Slovenské elektrárne for the completion of units 3 and 4 of the Mochovce nuclear power plant as well as the mechanisms governing the exercise of the put or call options concerning the transfer of the residual stake in HoldCo.