List of equity investments
(pursuant to Article 126 of Consob Resolution No. 11971 of May 14, 1999)
A) Investments in companies included in the scope of consolidation
A.1) Companies consolidated line by line
| Company name | Head office | Currency | Share capital | Consolidated Group interest (a) | Interest held in share capital | Voting securities held | Exercisable voting rights | Type of investment relationship | Notes | ||
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12.31.2010 | 12.31.2009 | % (b) | by | % (c) | % (d) | (e) |
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| Group Parent Company |
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| Edison Spa | Milan | EUR | 5,291,700,671 |
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| Electric Power Operations |
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| Compagnia Energetica Bellunese CEB Spa (single shareholder) | Milan (IT) | EUR | 1,200,000 | 86.12 | 86.12 | 100.00 | Sistemi di Energia Spa | - | - | S | (i) |
| Dolomiti Edison Energy Srl | Trento (IT) | EUR | 5,000,000 | 49.00 | 49.00 | 49.00 | Edison Spa | - | - | S | - |
| Ecofuture Srl (single shareholder) | Milan (IT) | EUR | 10.200 | 100.00 | 100.00 | 100.00 | Edison Spa | - | - | S | (i) |
| Edison Energia Spa (single shareholder) Attività Energia Elettrica | Milan (IT) | EUR | 22,000,000 | 100.00 | 100.00 | 100.00 | Edison Spa | - | - | S | (i) |
| Edison Energie Speciali Calabria Spa (single shareholder) | Milan (IT) | EUR | 120,000 | 100.00 | - | 100.00 | Edison Spa | - | - | S | (i) |
| Edison Energie Speciali Sicilia Srl (single shareholder) | Palermo (IT) | EUR | 20,000 | 100.00 | 100.00 | 100.00 | Edison Energie Speciali Spa (single shareholder) | - | - | S | (i) |
| Edison Energie Speciali Spa (single shareholder) | Milan (IT) | EUR | 4,200,000 | 100.00 | 100.00 | 100.00 | Edison Spa | - | - | S | (i) |
| Edison Engineering Sa | Athens (GR) | EUR | 260,001 | 100.00 | 100.00 | 100.00 | Edison Spa | - | - | S | - |
| Edison Power Energy Srl (single shareholder) Ex Hydro Power Energy Srl - HPE Srl (single shareholder) | Milan (IT) | EUR | 50,000 | 100.00 | 100.00 | 100.00 | Edison Spa | - | - | S | (i) |
| Edison Trading Spa (single shareholder) | Milan (IT) | EUR | 30,000,000 | 100.00 | 100.00 | 100.00 | Edison Spa | - | - | S | (i) |
| Eneco Energia Spa (single shareholder) | Bolzano (IT) | EUR | 222,000 | 100.00 | 100.00 | 100.00 | Edison Spa | - | - | S | (i) |
| Gever Spa | Milan (IT) | EUR | 10,500,000 | 51.00 | 51.00 | 51.00 | Edison Spa | - | - | S | - |
| Hydros Srl - Hydros Gmbh | Bolzano (IT) | EUR | 30,018,000 | 40.00 | 40.00 | 40.00 | Edison Spa | - | - | S | - |
| Jesi Energia Spa | Milan (IT) | EUR | 100,000 | 100.00 | - | 100.00 | Edison Spa | - | - | S | (i) |
| Parco Eolico San Francesco Srl (single shareholder) | Milan (IT) | EUR | 5,350,000 | 70.00 | 70.00 | 70.00 | Edison Energie Speciali Spa (single shareholder) | - | - | S | (i) |
| Presenzano Energia Srl | Milan (IT) | EUR | 120,000 | 90.00 | 100.00 | 90.00 | Edison Spa | - | - | S | (i) |
| Sarmato Energia Spa | Milan (IT) | EUR | 14,420,000 | 55.00 | 55.00 | 55.00 | Edison Spa | - | - | S | - |
| Sistemi di Energia Spa | Milan (IT) | EUR | 10,083,205 | 86.12 | 86.12 | 86.12 | Edison Spa | - | - | S | (i) |
| Sondel Dakar Bv | Breda (NL) | EUR | 18,200 | 100.00 | 100.00 | 100.00 | Edison International Holding Nv | - | - | S | - |
| Termica Cologno Srl | Milan (IT) | EUR | 9,296,220 | 65.00 | 65.00 | 65.00 | Edison Spa | - | - | S | (i) |
| Termica Milazzo Srl | Milan (IT) | EUR | 23,241,000 | 60.00 | 60.00 | 60.00 | Edison Spa | - | - | S | (i) |
| Hydrocarbons Operations |
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| Amg Gas Srl | Palermo (IT) | EUR | 100,000 | 80.00 | 80.00 | 80.00 | Edison Spa | - | - | S | (i) |
| Edison D.G. Spa (single shareholder) | Selvazzano Dentro (PD) (IT) | EUR | 460,000 | 100.00 | 100.00 | 100.00 | Edison Spa | - | - | S | (i) |
| Edison Energia Spa (single shareholder) - Attività Idrocarburi | Milan (IT) | EUR | 22,000,000 | 100.00 | 100.00 | 100.00 | Edison Spa | - | - | S | (i) |
| Edison Idrocarburi Sicilia Srl (single shareholder) | Ragusa (IT) | EUR | 10,000 | 100.00 | 100.00 | 100.00 | Edison Spa | - | - | S | (i) |
| Edison International Spa | Milan (IT) | EUR | 75,000,000 | 100.00 | 100.00 | 92.86 | Edison Spa | - | - | S | (i) |
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7.14 | Selm Holding International Sa (in liquidation) | - | - |
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| Edison Stoccaggio Spa (single shareholder) | Milan (IT) | EUR | 81,497,301 | 100.00 | 100.00 | 100.00 | Edison Spa | - | - | S | (i) |
| Euroil Exploration Ltd | London (GB) | GBP | 9,250,000 | 100.00 | 100,00 | 0.00 | Edison Spa | - | - | S | - |
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100.00 | Selm Holding International Sa (in liquidation) | - | - |
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| Corporate Activities and other operations |
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| Atema Limited | Dublino 2 (IRL) | EUR | 1,500,000 | 100,00 | 100,00 | 100,00 | Edison Spa | - | - | S | - |
| Edison Hellas Sa | Athens (GR) | EUR | 263,700 | 100,00 | 100,00 | 100,00 | Edison Spa | - | - | S | - |
| Edison International Abu Qir Bv | Amsterdam (NL) | EUR | 18,000 | 100,00 | 100,00 | 100,00 | Edison International Holding Nv | - | - | S | - |
| Edison International Exploration & Production Bv | Amsterdam (NL) | EUR | 18,000 | 100,00 | 100,00 | 100,00 | Edison International Holding Nv | - | - | S | - |
| Edison International Finance Abu Qir Bv | Amsterdam (NL) | EUR | 18,000 | 100,00 | 100,00 | 100,00 | Edison International Holding Nv | - | - | S | - |
| Edison International Holding Nv | Amsterdam (NL) | EUR | 50,000,000 | 100,00 | 100,00 | 100,00 | Edison Spa | - | - | S | - |
| Montedison Srl (single shareholder) | Milan (IT) | EUR | 2,583,000 | 100,00 | 100,00 | 100,00 | Edison Spa | - | - | S | (i) |
| Nuova Alba Srl (single shareholder) | Milan (IT) | EUR | 2,016,457 | 100,00 | 100,00 | 100,00 | Edison Spa | - | - | S | (i) |
| Selm Holding International Sa (in liquidation) | Luxembourg (LU) | EUR | 24,000,000 | 100,00 | 100,00 | 100,00 | Edison Spa | - | - | S | - |
A.2) Companies consolidated by the proportional method
| Company name | Head office | Currency | Share capital | Consolidated Group interest (a) | Interest held in share capital | Voting securities held | Exercisable voting rights | Type of investment relationship | Notes | ||
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12.31.2010 | 12.31.2009 | % (b) | by | % (c) | % (d) | (e) |
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| Electric Power Operations |
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| Edipower Spa | Milan (IT) | EUR | 1,441,300,000 | 50.00 | 50.00 | 50.00 | Edison Spa | - | - | JV | - |
| Elpedison Power Sa | Marousi Athens (GR) | EUR | 98,198,000 | 37.89 | 37.50 | 75.78 | Elpedison Bv | - | - | JV | - |
| Elpedison Trading Sa | Marousi Athens (GR) | EUR | 500,000 | 50.00 | 50.00 | 100.00 | Elpedison Bv | - | - | JV | - |
| Ibiritermo Sa | Ibirité - Estado de Minas Gerais (BR) | BRL | 7,651,814 | 50.00 | 50.00 | 50.00 | Edison Spa | - | - | JV | - |
| Kinopraxia Thisvi | N. Kiffissia (GR) | EUR | 20,000 | 65.00 | 65,00 | 65.00 | Edison Engineering Sa | - | - | JV | (iii) |
| Parco Eolico Castelnuovo Srl | Castelnuovo di Conza (SA) (IT) | EUR | 10,200 | 50.00 | 50.00 | 50.00 | Edison Energie Speciali Spa (single shareholder) | - | - | JV | - |
| Sel Edison Spa | Castelbello (BZ) (IT) | EUR | 84,798,000 | 42.00 | 42.00 | 42.00 | Edison Spa | - | - | JV | - |
| Hydrocarbons Operations |
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| Abu Qir Petroleum Company | Alexandria (ET) | EGP | 20,000 | 50.00 | 50.00 | 50.00 | Edison International Spa | - | - | JV | - |
| Ed-Ina D.o.o. | Zagabria (HR) | HRK | 20,000 | 50.00 | 50.00 | 50.00 | Edison International Spa | - | - | JV | - |
| IGI Poseidon Sa-Nat. Gas Subm. Interc. Gre-Ita-Poseidon | Herakleio Attiki (GR) | EUR | 22,100,000 | 50.00 | 50.00 | 50.00 | Edison International Holding Nv | - | - | JV | - |
| Corporate Activities and other operations |
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| Elpedison Bv | Amsterdam (NL) | EUR | 20,000 | 50.00 | 50.00 | 50.00 | Edison International Holding Nv | - | - | JV | - |
B) Investments in companies valued by the equity method
| Company name | Head office | Currency | Share capital | Consolidated Group interest (a) | Interest held in share capital | Voting securities held | Exercisable voting rights | Carrying value (in millions of euros) (f) | Type of investment relationship | Notes | |
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12.31.2009 | % (b) | by | % (c) | % (d) |
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(e) |
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| Centrale Elettrica Winnebach Soc. Consortile Arl | Terento (BZ) (IT) | EUR | 100,000 |
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30.00 | Hydros Srl - Hydros Gmbh | - | - | - | AC | - |
| Centrale Prati Società Consortile Arl | Val di Vizze (BZ) (IT) | EUR | 300,000 |
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30.00 | Hydros Srl - Hydros Gmbh | - | - | - | AC | - |
| Consorzio Barchetta | Jesi (AN) (IT) | EUR | 2,000 |
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50.00 | Jesi Energia Spa | - | - | - | AC | - |
| E L.IT.E Spa | Milan (IT) | EUR | 3,888,500 |
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48.45 | Edison Spa | - | - | 2.8 | AC | - |
| Energia Senales Srl - Es Srl | Senales (BZ) (IT) | EUR | 100,000 |
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40.00 | Hydros Srl - Hydros Gmbh | - | - | - | AC | - |
| Eta 3 Spa | Arezzo (IT) | EUR | 2,000,000 |
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33.01 | Edison Spa | - | - | 1.2 | AC | - |
| GTI Dakar Ltd | George Town Gran Caiman (KY) | EUR | 14,686,479 |
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30.00 | Sondel Dakar Bv | - | - | - | AC | - |
| Iniziativa Universitaria 1991 Spa | Varese (IT) | EUR | 16,120,000 |
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32.26 | Montedison Srl (single shareholder) | - | - | 4.4 | AC | - |
| Kraftwerke Hinterrhein Ag | Thusis (CH) | CHF | 100,000,000 |
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20.00 | Edison Spa | - | - | 17.9 | AC | - |
| Soc. Svil. Rea. Gest. Gasdot. Alg-ITA V. Sardeg. Galsi Spa | Milan (IT) | EUR | 37,242,300 |
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20.81 | Edison Spa | - | - | 17.7 | AC | - |
| Utilità Spa | Milan (IT) | EUR | 2,307,692 |
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35.00 | Edison Spa | - | - | 1.5 | AC | - |
| Total investments in companies valued by the equity method |
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45.5 |
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C) Investments in companies in liquidation or subject to permanent restrictions
| Company name | Head office | Currency | Share capital | Consolidated Group interest (a) | Interest held in share capital | Voting securities held | Exercisable voting rights | Carrying value (in millions of euros) (f) | Type of investment relationship | Notes | |
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12.31.2009 | % (b) | by | % (c) | % (d) |
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(e) |
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| Auto Gas Company S.A.E. (in liquidation) | Il Cairo (ET) | EGP | 1,700,000 |
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30.00 | Edison International Spa | - | - | - | AC | - |
| Cempes Scrl (in liquidation) | Rome (IT) | EUR | 15,492 |
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33.33 | Nuova C.I.S.A. Spa (In liq.) - (single shareholder) | - | - | - | AC | - |
| Compagnia Elettrica Lombarda Spa (in liquidation) | Milan (IT) | EUR | 408,000 |
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60.00 | Sistemi di Energia Spa | - | - | - | S | - |
| Coniel Spa (in liquidation) | Rome (IT) | EUR | 1,020 |
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35.25 | Edison Spa | - | - | - | AC | - |
| Groupement Gambogi-Cisa (in liquidation) | Dakar (SN) | XAF | 1,000,000 |
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50.00 | Nuova C.I.S.A. Spa (In liq.) (single shareholder) | - | - | - | AC | - |
| Inica Soc. de Iniciativas Mineiras e Industriais Sa | Lisbon (PT) | PTE | 1,000,000 |
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20.00 | Edison Spa | - | - | - | AC | - |
| International Water Holdings Bv (in liquidation) | Amsterdam (NL) | EUR | 40,000 | 50.00 | 50.00 | Edison Spa | - | - | - | JV | - |
| Nuova C.I.S.A. Spa (in liquidation) (single shareholder) | Milan (IT) | EUR | 1,549,350 |
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100.00 | Edison Spa | - | - | 2.4 | S | (i) |
| Nuova I.S.I. Impianti Selez. Inerti Srl (in bankruptcy) | Vazia (RI) (IT) | LIT in Euros | 150,000,000 77,468.53 |
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33.33 | Montedison Srl (single shareholder) | - | - | - | AC | - |
| Poggio Mondello Srl (single shareholder) | Palermo (IT) | EUR | 364.000 |
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100.00 | Nuova C.I.S.A. Spa (In liq.) (single shareholder) | - | - | - | S | (i) |
| Sistema Permanente di Servizi Spa (in bankruptcy) | Rome (IT) | EUR | 154,950 |
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12.60 | Edison Spa | - | - | - | NG | - |
| Soc. Gen. per Progr. Cons. e Part. Spa (in receivership) | Roma (IT) | LIT in Euros | 300,000,000 154,937.07 |
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59.33 | Edison Spa | - | - | - | S | - |
| Sorrentina Scarl (in liquidation) | Rome (IT) | EUR | 46,480 |
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25.00 | Nuova C.I.S.A. Spa (In liq.) (single shareholder) | - | - | - | AC | - |
| Total investments in companies in liquidation or subject to permanent restrictions |
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2.4 |
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D) Investments in other companies valued at fair value
D.1) Investments held for trading
| Company name | Head office | Currency | Share capital | Consolidated Group interest (a) | Interest held in share capital | Voting securities held | Exercisable voting rights | Carrying value (in millions of euros) | Type of investment relationship | Notes | |
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12.31.2009 | % (b) | by | % (c) | % (d) | (f) | (e) |
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| Acegas-Aps Spa | Trieste (IT) | EUR | 283,690,763 |
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1.30 | Edison Spa | - | - | 2.6 | NG | - |
| Acsm-Agam Spa | Monza (IT) | EUR | 76,619,105 |
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1.94 | Edison Spa | - | - | 1.6 | NG | - |
| Amsc-American Superconductor | Devens (US) | USD | 507,017 |
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0.32 | Edison Spa | - | - | 3.4 | NG | - |
D.2) Available-for-sale investments
| Company name | Head office | Currency | Share capital | Consolidated Group interest (a) | Interest held in share capital | Voting securities held | Exercisable voting rights | Carrying value (in millions of euros) | Type of investment relationship | Notes | |
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12.31.2009 | % (b) | by | % (c) | % (d) | (f) | (e) |
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| Emittenti Titoli Spa | Milan (IT) | EUR | 4,264,000 |
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3.89 | Edison Spa | - | - | 0.2 | NG | - |
| European Energy Exchange Ag – Eex | Lipsia (DE) | EUR | 40,050,000 |
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0.76 | Edison Spa | - | - | 0.7 | NG | - |
| Istituto Europeo di Oncologia Srl | Milan (IT) | EUR | 80,579,007 |
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4.28 | Edison Spa | - | - | 3.5 | NG | - |
| MB Venture Capital Fund I Participating Comp. E Nv | Amsterdam (NL) | EUR | 50,000 |
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7.00 | Edison Spa | - | - | 0.5 | NG | - |
| Prometeo Spa | Osimo (AN) (IT) | EUR | 2,292,436 |
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17.76 | Edison Spa | - | - | 0.5 | NG | - |
| Rashid Petroleum Company - Rashpetco | Il Cairo (ET) | EGP | 20,000 |
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10.00 | Edison International Spa | - | - | - | NG | - |
| RCS Mediagroup Spa | Milan (IT) | EUR | 762,019,050 |
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1.02 | Edison Spa | 1.06 | 1.06 | 8.0 | NG | - |
| Syremont Spa | Messina (IT) | EUR | 1,250,000 |
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24.00 | Edison Spa | - | - | - | AC | (ii) |
| Terminale GNL Adriatico Srl | Milan (IT) | EUR | 200,000,000 |
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10.00 | Edison Spa | - | - | 278.4 | NG | - |
| Sundry investments |
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1.2 |
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| Total investments in other companie s valued at fair value |
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300.6 |
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| Total equity investments |
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348.5 |
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Companies added to the scope of consolidation in the year ended 12.31.2010
| Company name | Head office | Currency | Share capital at 12.31.2010 | Consolidated Group interest at 12.31.2010 |
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| Acquired companies |
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| Parco Eolico San Francesco Srl (single shareholder) | Milan (IT) | EUR | 100,000 | 100.00 |
| Companies previously valued by the equity method |
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| Edison Energie Speciali Calabria Spa (single shareholder) | Crotone (IT) | EUR | 120,000 | 100.00 |
| Company name | Head office | Currency | Share capital at 12.31.2009 | Share capital at 12.31.2010 | Consolidated Group interest at 12.31.2010 |
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| Companies removed from the scope of consolidation in the year ended 12.31.2010 |
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| Companies placed in liquidation |
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| International Water Holdings Bv | Amsterdam (NL) | EUR | 40,000 | 50.00 | 50.00 |
| Liquidated companies |
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| Ascot Srl | Bressanone (BZ) (IT) | EUR | 10,330 | 50.00 | 50.00 |
Notes
(a) The consolidated Group interest is computed on the basis of the interest held in the respective share capital by the Parent Company or subsidiaries consolidated on a line-by-line basis, and by jointly controlled companies consolidated by the proportional method.
(b) The interest in the share capital is equivalent to the ratio between the aggregate par value of all equity securities held directly and the total share capital. In this computation, the denominator (total share capital) is net of any treasury shares held.
(c) The percentage of the voting securities held is equivalent to the ratio between the number of voting securities held directly (irrespective of the ownership of the voting rights) and the total number of voting securities (e.g. common and preferred shares) included in the share capital. The percentage is shown only if it is different from the overall interest held.
(d) The percentage of securities with exercisable voting rights is the ratio between the number of votes which can be effectively cast by the investor company attending an Ordinary Shareholders’ Meeting and the total number of votes that can be cast at an Ordinary Shareholders’ Meeting. The percentage is shown only if it is different from the overall interest held.
(e) S = subsidiary JV = joint venture AC = affiliated company NG = non-Group company
(f) The carrying value is shown only for companies valued by the equity method or at cost, owned directly by the Parent Company. For other companies consolidated on a line-by-line basis or by the proportional method, it is shown only if it is equal to or greater than one million euros.
(i) Company subject to the oversight and coordination of Edison Spa.
(ii) On 1/30/07 Edison exercised the option to sell its equity investment, with respect to which the counterparty is now in default.
(iii) This company is a contractual joint venture.
The currency codes used in this report are those of the ISO 4217 International Standard.
BRL Brazilian real
CHF Swiss franc
EGP Egyptian pound
EUR Euro
GBP British pound
HRK Croatian kuna
PTE Portuguese escudo
USD U.S. dollar
XAF Central African franc