A2A sells five small run-of-river plants
Milan, July 3, 2013 – A2A has accepted an offer from BKW for the acquisition of the fully owned subsidiary Chi.Na.Co S.r.l., owner of five small hydro run-of-river plants, with total installed capacity of approximately 8 MW.
The offer price is 38 million euro, with possible additional 1.6 million subject to certain conditions by the end of next year. The plants in 2012 generated 37 GWh with revenues of 4 million euro and Ebitda of 3.1 million euro.
The transaction will be completed by July 5, 2013, once the necessary documentation is completed.
A2A, supported by Banca IMI in the competitive sale process, has selected BKW’s offer not only on the basis of value but also taking into account as a priority the continuity of plant operations, considering the concerned geographical area. BKW is a leading international energy group with more than 3000 employees and has been directly present in Italy for more than 13 years.
With this transaction, A2A further proceeds with its strategy of rationalization of the industrial portfolio and debt reduction, in line with the Economic and Financial Plan 2013-2015.
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