(BFW) EON Sells Hydroelectric Plants in Italy to ERG for EU950m


BN 08/06 19:28 *ERG: E.ON PLANTS IN UMBRIA, MARCHE, LAZIO
BN 08/06 19:27 *ERG: E.ON PURCHASE PARTLY FINANCED BY EU700M LOAN
BN 08/06 19:25 *ERG: 40% OF PLANTS FROM E.ON ELIGIBLE FOR GREEN CERT. INCENTIVE
BN 08/06 19:24 *ERG SAYS PAYING E.ON EU950M FOR 16 ITALY ELECTRIC PLANTS

MORE: EON Sells Hydroelectric Plants in Italy to ERG for EU950m
2015-08-06 19:35:43.445 GMT


By Jim Silver
(Bloomberg) -- Price ~EU950m on debt-free, cash-free basis,
ERG says in statement.

* ERG to finance acquisition with cash available and loan of
EU700m signed with pool of seven banks
* Asset portfolio consists of entire hydroelectric assets of
E.ON Produzione, expected to generate Ebitda ~EU110m/yr in
next few yrs, co. says
* NOTE: Jan 12, EON Agrees to Sell Coal, Gas Generation
Business in Italy to EPH

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John Simpson