Edison has set in motion the process to sell its 50% stake in Elpedison to Helleniq Energy Holdings SA, which holds the other 50% stake – along with its subsidiary – in the Greece-based retail power provider.
As widely reported over the recent period, Edison and Helleniq are “parting ways”, with the former to fully acquire Elpedison, which is incorporated under Dutch law.
Helleniq Energy’s offer reaches 195 million euros for 50% of the company’s equity, which corresponds to approximately 540 million euros for 100% of its enterprise value.
Elpedison is a producer and supplier of electricity and natural gas in Greece and is currently split 50-50 between Helleniq and Edison. Helleniq has a 50% stake in Elpedison and also an active 35% stake natural gas company DEPA Emporia, where it also trades natural gas and supplies electricity and natural gas.
