Czech energy group Energeticky a Prumyslovy Holding (EPH) has entered into an agreement with a consortium of global institutional investors led by Macquarie Infrastructure and Real Assets (MIRA) on the sale of a 30% stake in EP Infrastructure (EPIF). EPH will retain management control and 70% in EPIF.
EP Infrastructure is active in gas transmission, gas and power distribution, heat and power generation and gas storage in Central Europe. The company owns a 49% stake in Eustream, the gas transmission network operator in Slovakia (more than 2,300 km of gas transmission pipelines and 56 bcm transmitted in 2015). EPIF also owns a 49% stake in SPP Distribucia (gas distribution company in Slovakia, with 33,000 km of grid and 4.6 bcm distributed in 2015, and a 49% stake in Stredoslovenská energetika (SSE, power distribution company in western Slovakia with more than 700,000 customers), along with a 100% interest in EP Energy Trading (gas and electricity supplier in the Czech Republic and Slovakia, with 1.8 TWh of electricity and 1.4 TWh of gas supplied in 2015. EPIF is also active in gas storage, through a 69% stake in Nafta (2.7 bcm storage in Slovakia), a 40.9% stake in Pozagas (655 mcm storage in Slovakia) and a 49% stake in SPP Storage (576 mcm storage in the Czech Republic). In addition, EPIF holds majority stakes in heating plants in the Czech Republic (73.8% in the Prague's heat plant Prazska Teplarenska, 100% in the Elektrárny Opatovice CHP plant, 100% in the Plzeňská Energetika CHP plant, 100% in United Energy and in EP Sourcing) and in Hungary, with a 95.6% stake in Budapesti Erömü, the CHP plant in Budapest.
The transaction is expected to complete in early 2017, following customary regulatory approvals.