EDF divests 25% stake in Alpiq to EBM and EOS

Following the approval from their respective governance bodies, EDF, EBM (Coopérative Elektra Birseck) and EOS Holding SA signed an agreement on EDF's disposal of its stake in Swiss power producer Alpiq, representing 25.04% of the company's capital and voting rights to EBM and EOS. Each entity will acquire half of the stake.

The transaction values at CHF489 million (US$481 million). The Shares Purchase Agreement includes potential earn-out mechanisms.

The acquisition by EBM and EOS will be financed through mandatory exchangeable loans in Alpiq's shares raised from CSA Energy Infrastructure Switzerland, a fund managed by Credit Suisse Energy Infrastructure Partners.

Completion of the transaction is subject to the approval by the German competition authority and is expected to occur by end of H1 2019.