Camfin sale of 40% stake in Energie Investimenti to GDF SUEZ for 119 million euros finalized
Release Date: 2009-05-25
Camfin and GDF SUEZ groups announce today that they have finalized the transfer of a 40% share of Energie Investimenti held by Cam Partecipazioni (Camfin group) to GDF SUEZ, which thus holds 100% of the company.
The transaction was carried out for a consideration of 119 million euros and follows the exercise of the put option by Cam Partecipazioni, on the basis of the provisions in the shareholder agreement defined by the parties at the time of incorporation of Energie Investimenti.
For the Camfin group, the transaction is part of the plan to strengthen its equity and financial structure, as announced on 27 March 2009 and will generate for Cam Partecipazioni a capital gain of about 20 million euros. For GDF SUEZ it represents an opportunity to reinforce its presence in the energy industry in Italy.
Set up in 2006, Energie Investimenti has represented for both groups a fruitful example of collaboration.
Recording sales of 3.5 billion cubic metres of natural gas and 0.1 TWh of electricity in 2008, Energie Investimenti is the third operator on the gas market in Italy. The company has a portfolio of 1 million residential, small business and industrial customers.
| Type: | NORMAL |
| Url: | http://www.gdfsuez.com/en/news/press-releases/press-releases/?communique_id=1049 |