EDF and Alpiq announce that they have signed a preliminary agreement for the sale to EDF of Alpiq's 20% equity stake in Italian company Edipower. They have agreed to enter into negotiations on the basis of a price range between €150m and €200m. This preliminary agreement is part of the new proposal regarding Edison made yesterday in Milan by EDF to its Italian partners.
Alpiq has granted to EDF exclusivity until January 15, 2012 in order to finalise this agreement, which is subject to, among other conditions, an approval of the transaction by the boards of directors of EDF and Alpiq.
Additional information regarding the impact of this transaction on the results and the balance sheet of Alpiq will be disclosed on November 4, 2011.