Atel increases its stake in A2A to preserve its interests in Italy

Aare-Tessin Ltd. for Electricity (Atel) has increased its stake in energy supplier A2A S.p.A. based in Milan and Brescia to 5 percent. With the election of Antonio M. Taormina to the Supervisory Board of A2A, Atel has also ensured that its interests are protected in the key Italian market.

Atel holds 5 percent of the shares in A2A

Since 4 March 2008, Atel has held a 5 percent financial interest in A2A S.p.A. A2A is one of Italy's leading local energy suppliers and was created following the merger of AEM Milan and ASM Brescia. Atel has been a shareholder in the Milan Public Utility Company (AEM) since 1998. When AEM merged with the municipal utilities of Brescia to create A2A, the transaction resulted in a dilution of Atel's holding. Atel has now increased its stake once more to 5 percent.

A2A shares are listed on the Milan stock exchange. Atel's higher financial interest in A2A reinforces the relationship between the two energy companies and underscores the strategic importance of the Italian market for Atel.

On 22 February 2008 the Annual General Meeting of A2A elected Antonio M. Taormina, member of the Atel Executive Board, to the Supervisory Board of A2A. This appointment additionally underpins the position of the Atel Group in Italy. Antonio M. Taormina commented: "By raising our stake, Atel is underscoring the importance of the Italian market and our partnership with A2A. This has enabled us to transfer the proven model of mutual participation, with reciprocal representation on the boards of AEM Milan and Atel, to the new A2A constellation."

Aare-Tessin Ltd. for Electricity