EPH signs agreements to buy generation business and other activities in France from Uniper
4. 7. 2019
- Exclusive sales negotiations successfully concluded today
- Transfer of Uniper activities in France to EPH to be completed shortly
Energetický a průmyslový holding, a.s. (EPH) – through its wholly owned subsidiary EP Power Europe – and Uniper have successfully concluded the negotiations announced at the end of December 2018 on the sale of Uniper’s activities in France. Corresponding agreements were signed today. All necessary approvals have been received.
The scope of the transaction includes mainly Uniper’s French sales business, two gas-fired power plants in Saint-Avold (Lorraine), two coal-fired power plants in Saint-Avold and Gardanne (Provence), the biomass power plant „Provence 4 Biomasse“ in Gardanne and wind and solar power plants. The activities and assets at these sites and at Uniper France’s headquarters in Colombes near Paris will be fully transferred to EPH on completion.
At the end of 2018, Uniper received a unilateral and binding offer from EPH and entered into exclusive negotiations with EPH. This was followed as from January 2019 by a mandatory consultation process with the employees’ representative bodies as well as the commencement of the process to obtain the necessary approval from the European Commission, which was concluded successfully in May 2019, and the approval from the French Ministry for Economy and Finance, which was received at the end of June.
„We are proud to enter the French energy market which plays a key role in Europe,“ said Jan Špringl, vice-chairman of the Board of Directors of EPH and EP Power Europe.
„The acquisition of Uniper France perfectly fits to the strategy of EP Power Europe to further expand its presence in the European power generation sector. The portfolio of Uniper France is well diversified. Apart from conventional generation we are happy to expand our presence in generation from wind and solar. Additionally the biomass plant in Provence further strengthens our position in biomass based generation and ideally complements our portfolio located in the UK and Italy. We enter the French market with a strategic intention to further develop the business of Uniper France,” he added.