As published on 19 December 2014, Alpiq and IST3 have agreed that IST3 will take over the 49.9%-stake in the new subsidiary Alpiq Grid Beteiligungs AG, to which Alpiq transferred its Swissgrid shares. The transaction was concluded yesterday after the Swissgrid Board of Directors approved the transfer of the shares to Alpiq Grid Beteiligungs AG on 4 March 2015. Also finalised was the sale to IST3 of 49.9% of the Swissgrid shareholder loan held by Alpiq. In return, Alpiq received a total CHF 288 million from IST3.
At the end of May 2014, Alpiq announced that it would divest its stake in Swissgrid. Together with the sale of the first shareholder loan tranche announced on 28 November 2014 and amounting to CHF 75 million, Alpiq has generated a cash inflow totalling CHF 363 million from the transactions completed to date. Alpiq intends to divest this year the remaining shareholder loan for CHF 48 million, as well as the remaining 50.1%-share in Alpiq Grid Beteiligungs AG.
Alpiq will use proceeds primarily to reduce net debt and then make targeted investments in the future.