Alpiq divests AEK interest

Lausanne – Alpiq has sold its interest in AEK Energie AG to BKW. The proceeds from the sale will further reduce the company’s net debt and strengthen the balance sheet. Alpiq is continuing to consistently implement the Group’s transformation.

Alpiq has sold its 38.7 per cent share in AEK Energie AG (AEK) in Solothurn to BKW. BKW is the largest AEK shareholder and can thus increase its stake in the company. The share purchase agreement was signed on 27 April 2016. The transaction is subject to approval by the Swiss Competition Commission (Weko). The parties have agreed not to disclose the price. Alpiq will use the proceeds from the sale to further reduce net debt. On 13 November 2015, Alpiq announced that it would review the possibility of selling its AEK interest.

Alpiq is continuing to consistently implement the Group’s transformation. In this context, the top priority is ensuring capital market viability. With the opening of the hydropower portfolio to new investors, Alpiq is reducing its dependency on wholesale prices and decreasing net debt. In addition, opportunities to divest other non-strategic interests will be assessed and consistently implemented. The already initiated cost reduction programme and revenue improvement measures will be rigorously pursued. Energy trading and energy services offer growth potential and will be further developed in line with financial resources.