Sale of the French Pont-sur-Sambre and Toul combined cycle gas turbine power plants
VERBUND, Austria’s leading utility and KKR, a leading global investment firm, reach an agreement on the sale of the French Pont-sur-Sambre and Toul combined cycle gas turbine power plants. The contracts are scheduled to be signed in the days to come.
The sale of the French combined cycle gas turbine power plants, classified as held for sale since 31 December 2013, represents a major milestone for VERBUND in the optimisation of its entire thermal power plant portfolio. With this transaction, VERBUND strengthens the core business, reinforces its position as a producer of renewable energy in Europe and concludes its involvement in the French electricity market. The transaction is scheduled to close at the end of 2014 and still requires competition and other regulatory approvals, among others. The sales price corresponds to the level of the current carrying amount of the power plants.
After the finalisation of the transaction, there will be no negative contributions to results in connection with both of the disposed French combined cycle gas turbine power plants from financial year 2015.