The Hera Group and Ascopiave have signed an agreement for the transfer by the latter of an 8% stake in the capital of EstEnergy, the commercial joint venture established in 2019 and which is the largest energy operator in the North East with over one million customers.
The sale derives from the partial exercise of the sale option held by Ascopiave on its stake in the company, as established in the agreements signed between the parties on the occasion of the establishment of the partnership.
The transfer value is based on the fair market value of the company, estimated at 79.2 million euro with payment in December 2022. As a result of the transaction, which will be completed by the end of 2022, the Hera Group in EstEnergy it will rise to 60% while Ascopiave will continue to hold 40% of the share capital, without prejudice to the right to sell this share under the conditions already defined, in addition to maintaining the current governance rights.