EDF to sell its stake in Alpiq

09 April 2019

EDF has agreed to sell its stake in Swiss nuclear utility Alpiq to the company's other major shareholders, who intend to take it private. The price for EDF's 25.04% share is CHF489 million (USD489.2 million).

Gösgen (Image: Alpiq)

Alpiq owns a range of generation assets and trading businesses in, respectively, seven and 24 European countries. Its assets include a 73% share of the 1010 MWe Gösgen nuclear power plant, which last year accounted for 12% of its portfolio and 33.5% of its total generation. The single-unit plant provides about 15% of Switzerland's electricity but is scheduled to close in 2029 under the country's nuclear phase-out policy.

An EDF investment subsidiary agreed on 5 April to sell its 25.04% stake in Alpiq to two of the company's other shareholders, EOS and EBM, which already hold 31.65% and 13.65%, respectively. EBM and EOS are members of a consortium of smaller shareholders known as Primeo Energie, the other members of which own a further 17.78% of Alpiq.

When the deal is completed, the Primeo Energie consortium will hold 88% of Alpiq, "paving the way for a Swiss ownership structure", EOS said. The remaining 12% is traded on the Swiss Stock Exchange but EOS and Primeo Energie plan to purchase these shares and take Alpiq private, subject to approval by the competition authorities. Alpiq’s stock rose over 7% on news of the sale plan to CHF70.00 per share and traded today at CHF71.40/share.

EOS said the purchase will be financed by CSA Infrastructure Switzerland, which is backed by 135 pension funds in the country.

Researched and written by World Nuclear News