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A2A exercises the put option to sell its 25.7% stake in Metroweb SpA to the Italian infrastructure fund F2i

  • A2A exercises the put option to sell its 25.7% stake in Metroweb SpA to the Italian infrastructure fund F2i
  • Proceeds of around 60 million Euro, capital gain of approximately 35 million Euro

 

Milan, 27 November 2012. Today, A2A exercised the put option to sell its 25.7% stake in Metroweb S.p.A. to F2i Reti Tlc S.p.A., Metroweb’s controlling shareholder.

A2A had obtained the shares subject to the put option by converting on 6 October 2011 a convertible bond it had kept in its portfolio on 30 June 2011, when it sold its stake to F2i.

The transaction is perfectly consistent with A2A’s recently approved business plan, and especially with its goals of swiftly improving and stabilising the Company’s financial position.

By exercising the put option, A2A will collect approximately 60 million Euro, resulting in a capital gain of about 35 million Euro. In terms of enterprise value, the strike price corresponds to approximately 10 times Metroweb’s 2011 EBITDA.

Metroweb was established in 1997 by AEM S.p.A. (under the name Citytel) to develop and manage broadband telecommunication networks. Since the initiation of the Citytel/Metroweb  transaction, until the exercise of the put option, A2A invested approximately 10 million Euro and gained approximately 145 million Euro overall.

 

Contacts

A2A - Media Relations A2A
Tel. 02 7720.4582 - ufficiostampa@a2a.eu

Investor Relations Team
Tel. 02 7720.3974 - ir@a2a.eu

 

Duty to notify the public in accordance with Consob decision no. 11971 of 05/14/1999 as amended