Edison's Board of Directors accepted the offer of HELLENiQ for the sale of its 50% stake in ELPEDISON

Milan - Athens, 9 December 2024 - Edison announces that the Board of Directors that met on December 6 has approved HELLENiQ Energy Holdings S.A. offer (Helleniq) for the sale of 50% of its stake in ELPEDISON BV to Helleniq Energy Holdings SA which holds, together with the subsidiary Helleniq Energy International GMBH, the remaining shares of the joint-venture.

The parties, in order to pursue their respective growth strategies, agreed to terminate the 50/50 joint-venture in ELPEDISON, a company incorporated under Dutch law and owner of the entire capital of the Greek company Elpedison SA (Elpedison). Helleniq’s offer of up to €195m for 50% of the equity is equivalent to c.€540m for 100% of the Enterprise Value. 

Completion of the transfer is subject to the signing of the final purchase agreement between the two partners and to the approval of the relevant regulatory authorities.

The Edison Group is proud to have contributed to the development of Elpedison making it one of the leading players within the Greek energy market and, after over 16 years of fruitful cooperation with Helleniq, would like to thank its partner and all Elpedison’s staff for their invaluable work and their best-in-class professionalism. With Helleniq at the helm Edison is confident that Elpedison and its staff will continue to contribute positively to the Energy transition of Greece. 

Elpedison operates two natural gas-fired power plants in Thisvi and Thessaloniki, with a total capacity of 820 MW, is a key player of Greece’s wholesale gas market and serves approximately 350,000 retail customers.

 

Relevant information pursuant to Consob resolution no. 11971 of 14.5.1999 and subsequent amendments.