Alpiq to divest its non-strategic interest in Swissgrid AG

Alpiq to divest its non-strategic interest in Swissgrid AG

Alpiq to divest its non-strategic interest in Swissgrid AG

LAUSANNE, 10-Nov-2016 — /EuropaWire/ — Alpiq concluded the divestment of its non-strategic interest in Swissgrid AG on 8 November 2016. Alpiq will receive an amount of CHF 146 million, which will be used to further reduce net debt.

On 6 October 2016, Alpiq announced the pending closing of the divestment of the 30.3%-interest in Swissgrid AG, which was held by Alpiq Grid Beteiligungs AG. The sale to BKW Netzbeteiligung AG was concluded on 8 November 2016 after the Swissgrid Board of Directors approved the transfer of shares and upon discontinuation of pending proceedings.

With this and several other steps taken in the past, Alpiq has concluded the divestment of its non-strategic interest in Swissgrid AG for a total of CHF 557 million in the form of shares and loans. With the closing of this transaction, Alpiq will receive an amount of CHF 146 million. These proceeds will be used for the further reduction of net debt.

MEDIA CONTACT

Andreas Meier
Media Relations
T: +41 62 286 71 10
media@­alpiq.­com

Lukas Oetiker – Investors
Lukas Oetiker
Investor Relations
T: +41 62 286 75 37
investors@­alpiq.­com

SOURCE: Alpiq

Comments are closed.