ERG has agreed to buy E.ON's Italian hydroelectric business for €0.95bn. Assets: 16 power plants, 7 dams, 3 reservoirs and a pumping station. The average annual output is c. 1.4TWh (1.8TWh in 2014). ERG will finance the deal with part of its cash and a €700m loan. The acquisition is still subject to anti-trust approval. Q2 15 results: adjusted revenues were at €222m (-11% yoy). Adjusted RC EBITDA came in at €86m (+15% yoy). By division (ex corporate): 1) Renewables: EBITDA
07 Aug 2015
ERG buys E.ON’s Italian hydroelectric portfolio
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ERG buys E.ON’s Italian hydroelectric portfolio
ERG S.p.A. (ER9:FRA) | 0 0 0.5% | Mkt Cap: 2,411m
- Published:
07 Aug 2015 -
Author:
Marzio Foa -
Pages:
2
ERG has agreed to buy E.ON's Italian hydroelectric business for €0.95bn. Assets: 16 power plants, 7 dams, 3 reservoirs and a pumping station. The average annual output is c. 1.4TWh (1.8TWh in 2014). ERG will finance the deal with part of its cash and a €700m loan. The acquisition is still subject to anti-trust approval. Q2 15 results: adjusted revenues were at €222m (-11% yoy). Adjusted RC EBITDA came in at €86m (+15% yoy). By division (ex corporate): 1) Renewables: EBITDA