Following approval by the competition authorities in the EU and Switzerland, it was possible to execute the transaction today. The gross proceeds of around CHF 800 million from the transaction substantially increase liquidity and strengthen the core business.
With the closing of the transaction, Alpiq is fit for the future and will now focus on its core business. This comprises a highly flexible power plant portfolio that is diversified both technologically and geographically throughout Europe, the marketing of flexibility of both its own power plant portfolio and the decentralised power plants of third parties in Europe, the international trading, wholesale and retail business as well as digital energy services.
As a result of the transaction, the contract of employment with Peter Limacher, Head of the Building Technology & Design business division and member of the Alpiq Executive Board, will be terminated by mutual agreement with effect from 31 July 2018. He will resign from the Alpiq Executive Board on this date. Alpiq would like to express its thanks to Peter Limacher for his many years of service and his great commitment as Division Head and member of the Alpiq Executive Board.
Find more information about Alpiq: www.alpiq.com