The Board of Directors of Alpiq Holding Ltd. has approved the sale to Delmi S.p.A. of the 20 percent stake in energy company Edipower S.p.A of Italy, at a price of EUR 200 million. The sale will take place within the framework of the transaction announced on 27 December 2011 by the parties involved in Edison and Edipower. Signing of the agreements is scheduled for mid-February 2012, and the closing will follow a few months later.
The planned sale of the Edipower stake is part of the restructuring programme announced by the Alpiq Group on 4 November 2011. Alpiq intends to reduce net debt by around CHF 1.5 to 2.0 billion through divestments and by concentrating investments.