06/29/2016, 18:00
| Ad hoc announcement pursuant to Art. 53 LR
Lausanne - Alpiq successfully concludes the sale of its interest in AEK Energie AG to BKW on 29 June 2016. Alpiq will further reduce its net debt with the proceeds from the sale.
In November 2015, Alpiq announced that it was reviewing the possibility of divesting its interest of 38.7 per cent in AEK Energie AG in Solothurn. The sale to BKW was successfully concluded on 29 June 2016. The parties have agreed not to disclose the sales price. Alpiq will use the proceeds from the sale to further reduce net debt.
Alpiq is continuing to consistently implement the Group’s transformation. In this context, the top priority is ensuring capital market viability. With the opening of up to 49 per cent of the hydropower portfolio to new investors, Alpiq is reducing its dependency on wholesale prices and decreasing net debt. In addition, opportunities to divest other non-strategic interests will be assessed and consistently implemented. The already initiated cost reduction programme and revenue improvement measures will be rigorously pursued. Energy trading and energy services offer growth potential and will be further developed in line with financial resources.