Public disclosure required by Consob Resolution No. 11971 of May 14, 1999, as amended. The 25% interest in ISE is valued at € 210 million. ISE operates five power plants with a total installed capacity of 1,300 MW
Milan, May 31, 2004 - Edison and Ilva reached an agreement today whereby Edison will purchase Ilva's 25% minority interest in Iniziative Sviluppo Energie Spa (ISE) for a total price of € 210 million. The closing is scheduled to take place in a few weeks.
The remaining 75% of ISE is owned by Finel SpA, an Edison subsidiary (60%) in which EDF holds a 40% interest. Following this additional investment, Edison will hold 100% of voting rights in ISE's capital stock and 70% of interest on a consolidated basis .
ISE produces and distributes electric power and steam at four thermoelectric plants and one hydroelectric plant. These five facilities, which are located in central and southern Italy, have a total installed capacity of about 1,300 MW.
ISE ended 2003 with net revenues of € 800 million and net income of € 133 million.
