The unwinding of the joint venture between Acea and GDF Suez Energia Italia SpA (GSEI) was completed, according to the procedures and terms agreed by the parties and already announced to the market on 16 September 2010 and 25 November 2010.
Following the acquisition of 40.6% of AceaElectrabel SpA (AE) from GSEI, Acea owns 100% of AE and, via this company, 100% of AceaElectrabel Elettricità SpA (“AEE”) and the latter company’s investments;
Following the partial spin-off of AceaElectrabel Produzione SpA (“AEP”), Acea, through AE, owns 100% of a company established as a result of the spin-off (“Acea Produzione SpA”), to which the hydroelectric and thermoelectric assets and operations at the Tor di Valle and Montemartini plants (including urban heating assets and operations) have been transferred;
GSEI owns 100% of AEP, which following the spin-off remains the owner of three combined-cycle plants and the wind farms;
GSEI has acquired from Acea 30% of Eblacea, which in turn owns 50% of Tirreno Power;
Following AE’s acquisition of 84.17% of AceaElectrabel Trading (“AET”), GSEI owns 100% of this company;
GSEI has granted Acea an irrevocable and unconditional option (exercisable by 30 September 2011) to enter into a five-year electricity supply contract, worth 5 TWh per annum, under pre-established conditions.