Definizione di Contatti ERG
Contatti ERG. ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ Chief ESG, IR & Communication Officer – tel. + ▇▇ ▇▇▇ ▇▇▇▇▇▇▇ – e-mail: ▇▇▇▇▇▇▇▇▇@▇▇▇.▇▇ - ▇▇@▇▇▇.▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇ Head of External Communication - tel. + ▇▇ ▇▇▇ ▇▇▇▇▇▇▇ cell. + ▇▇ ▇▇▇▇▇▇▇▇▇▇ e-mail: ▇▇▇▇▇▇▇▇▇▇▇@▇▇▇.▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Head of Investor Relations - tel. + ▇▇ ▇▇▇ ▇▇▇▇▇▇▇ – e-mail: ▇▇@▇▇▇.▇▇ ▇▇▇.▇▇▇.▇▇ - @ergnow In particular, the AGCM considered - following the investigation activities it had over the last months - that the transaction would lead to the creation and the reinforcement of a dominant position on the buyer's part that would eliminate or reduce in a substantial and long-lasting way the competition in the relevant markets, as found in this investigation. The AGCM's non-approval of the transaction thus rendered ineffective the agreements signed by ERG Power Generation SpA and ENEL Produzione SpA for the sale of the equity investment in ERG Power Srl due to the non-fulfilment of one of the conditions precedent to closing. In this regard, over the coming months ERG will evaluate the most efficient alternative path to pursue the strategic objective of the 2022-2026 business plan of focusing on the core business of generating electricity from renewable sources by divesting ERG Power S.r.l.. It’s worth noting that the guidance related to ERG's expected net financial position as at 31 December 2022 (see PR of 4 August 2022) is updated to €1.55-1.65bn from €1.40-1.50bn to reflect the loss of cash-in relating to the sale mentioned above. However, the guidance on EBITDA is confirmed in the range of €485-515mn not reflecting, as previously stated, the CCGT's expected contribution for the entire year in the range of 60-70 million euro. This contribution is also due to recent investments that qualify it for ten years, starting in 2022, as a high-efficiency cogeneration plant and therefore able to generate white certificates. ▇▇▇▇▇ ▇▇▇▇▇, ERG's CEO, commented: "We were surprised by AGCM's failure to approve the transaction, also given the industrial set-up of the plant, whose production is mainly tied to the Priolo industrial site through long-term contracts. In light of what has emerged, we will evaluate the possible options to valorise the asset as best we can while confirming the growth targets in our Industrial Plan."
Contatti ERG. ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ Chief ESG, IR & Communication Officer – tel. + ▇▇ ▇▇▇ ▇▇▇▇▇▇▇ – e-mail: ▇▇▇▇▇▇▇▇▇@▇▇▇.▇▇ - ▇▇@▇▇▇.▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇ Head of External Communication - tel. + ▇▇ ▇▇▇ ▇▇▇▇▇▇▇ cell. + ▇▇ ▇▇▇▇▇▇▇▇▇▇ e-mail: ▇▇▇▇▇▇▇▇▇▇▇@▇▇▇.▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Head of Investor Relations - tel. + ▇▇ ▇▇▇ ▇▇▇▇▇▇▇ – e-mail: ▇▇@▇▇▇.▇▇ ▇▇▇.▇▇▇.▇▇ - @ergnow The fee in terms of Enterprise Value, as of 31.12.2021, is Euro 188 million and will be subject to a price adjustment at the closing. This will include, among other things, a monthly décalage mechanism consistent with the expected cash flows of the business plan. It will also include the mark-to-market valuation of some hedging derivatives included in the scope and relating to part of the energy produced in the future by ERG Power's plants. One hundred and forty-four people run the hydroelectric complex, which is included within the scope. The staff includes technicians highly specialised in the operational management of the plants, energy management specialists and dedicated staff. Regarding these resources the Company reached - thanks to the constructive cooperation with the national trade unions and the willingness of the buyer - an innovative agreement for the electricity sector that provides essential protections. Subject, among other things, to the approval of the Italian Antitrust Authority and the successful completion of the golden power procedure at the Italian Presidency of the Council of Ministers, the deal should be closed within the third quarter of 2022. ▇▇▇▇▇ ▇▇▇▇▇, ERG's Chief Executive Officer, commented: "We are satisfied with the agreement with Enel, who are a leading global energy group with a consolidated industrial position in Italy. This is because it offers the best guarantees in terms of reliability for integrating our personnel and fully enhancing the asset. With this transaction, ERG completes its business transformation into a pure 'wind & solar' model and continues along the path of decarbonisation envisaged in the ESG plan. The financial resources from the divestment of the Hydro and CCGT plants will be used to give new impetus to the Group's growth". Rothschild & Co. and Mediobanca jointly acted as financial advisors in the transaction. DLA Piper acted as legal advisor, ▇▇▇▇▇ & Young as accounting and tax advisor, Arup as technical advisor and Ref-e as market advisor.
Contatti ERG. ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Stampa - tel. + ▇▇ ▇▇▇ ▇▇▇▇▇▇▇ cell. + ▇▇ ▇▇▇ ▇▇▇▇▇▇▇ e-mail: ▇▇▇▇▇▇@▇▇▇.▇▇