Thursday, July 28, 2016

EPH became a stakeholder in Slovenské elektrárne

Only two days after European Commission's approval, the first phase of shares' transfer in Slovenské elektrárne, dominant electricity producer in Slovakia, was concluded. EP Slovakia BV, a subsidiary of EPH, invested 150 million Euros for 50 % shares of Slovak Power Holding B.V.(SPH), which is with 66 % a majority stakeholder in Slovenské elektrárne. Enel Produzione S.p.A. retains 50 % in SPH what is equal to 33 % share in Slovenské elektrárne.

The primary price for the transaction of 50 % share in SPH was set at 375 million Euros. Stakeholders agreed that 150 million Euros has to be paid in the first phase of the transaction. If necessary, the remaining amount should be changed by an adjustment mechanism.

Today’s non-planned general meeting was held in order to reflect changes in the company. Stakeholders made changes in Articles of Association and new members in Board of Directors and Board of Supervisors were confirmed. With effect from 29 July, a new director of Slovenské elektrárne became Bohumil Kratochvíl, nominee of EPH, who replaced Nicola Cotugno from ENEL.

Chairman of Board of Supervisors retains Richard Paško, nominee of the Slovak Republic, vice-chairman retains Roberto Deambrogio, nominee of ENEL. New members of Board of Supervisors, delegated by SPH are Jan Špringl, Jiří Feist, Pavel Janík, Jan Stříteský, Michele Bologna a Rodolfo Avogadro di Vigliano.

At the end of July 2016, the ownership structure of Slovenské elektrárne is as follows:

66 % - Slovak Power Holding B.V.  (ENEL 33 % and EPH 33 %)

34 % - The Slovak Republic 

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