EPH Acquires a 49% stake and management control in Slovenský plynárenský priemysel a.s. (SPP)

15. 1. 2013

The transaction worth €2.6 billion (approximately CZK 66.5 billion) is the largest ever investment by a Czech entity abroad.

Energetický a průmyslový holding (“EPH”), a leading Czech energy group, has signed today an agreement with E.ON and GDF SUEZ to acquire 100% of their 50/50 joint venture Slovak Gas Holding (“SGH”) for approximately €2.6 billion. SGH holds a 49% stake and a management control in Slovenský plynárenský priemysel a.s. (“SPP”). Slovak government, the owner of the remaining 51% stake in SPP, has earlier expressed full support and consent with the transaction.

“I am firmly convinced that EPH is a most suitable strategic partner for the government and for SPP, and will help Slovenský plynárenský priemysel to successfully face up to the negative trends in the crucial segment of natural gas transmission,” said Daniel Křetínský, EPH Chairman and CEO. “As a result of this transaction, EPH becomes one of the largest Central European energy companies,” added Mr. Křetínský

The transaction is expected to be finalized in forthcoming weeks.

Slovenský plynárenský priemysel is an international energy company fully integrated in the European gas pipeline system. The SPP is a market leader in natural gas supply and reliable partner to about 90% of households in Slovakia and a number of corporate customers. SPP also operates, through fully unbundled entity “eustream”, the key international transit route fulfilling European gas demand since early 70s. Based in Bratislava, SPP has approximately 4000 employees.