GDF SUEZ has announced that it has reached an agreement on the disposal of a majority stake in IP Maestrale, its Italian wind energy subsidiary, to ERG SpA, an Italian energy group active in renewables through ERG Renew, for an enterprise value of € 0.9 billion.
As part of the transaction, GDF SUEZ will remain a minority shareholder of the company with a 20% stake. IP Maestrale operates a wind energy portfolio with 550MW installed capacity in the south of Italy, Sicily and Sardinia, and 86MW in Germany. The transaction closing, subject to approval by the Antitrust Authority and acceptance of the change in control by the financing institutions, is scheduled to take place in the first quarter of 2013.
As part of the transaction, GDF SUEZ will remain a minority shareholder of the company with a 20% stake. IP Maestrale operates a wind energy portfolio with 550MW installed capacity in the south of Italy, Sicily and Sardinia, and 86MW in Germany. The transaction closing, subject to approval by the Antitrust Authority and acceptance of the change in control by the financing institutions, is scheduled to take place in the first quarter of 2013.
