Half-yearly financial Report at June 30, 2013 - A2A

Half-yearly financial report at June 30, 2013Significant events during the periodThe project for the non-proportional demerger of Edipower S.p.A. isapprovedOn February 6, 2013 the Iren Group announced its intention to exercise its put option on itsshareholding in Edipower S.p.A., receiving a series of generation assets in compensation.On June 28, 2013, in execution of the agreements reached between A2A S.p.A. and Iren S.p.A.on the purchase of Edipower S.p.A. completed in May 2012, and as a consequence of theexercising of the rights envisaged therein by Iren S.p.A., which occurred in February 2013, theextraordinary shareholders’ meetings of Edipower S.p.A. and Iren Energia S.p.A. approved theproject for the non-proportional demerger of Edipower S.p.A..Under this operation a group of net assets is assigned to Iren Energia S.p.A. consisting of theTurbigo thermoelectric plant and the Tusciano hydroelectric complex, the staff working inthose plants, the assets and liabilities attributable to the plants and the debt of 44.8 millioneuro. After the demerger the Iren Group will no longer be a shareholder of Edipower S.p.A..After the time limits laid down by law are met and once the formalities required for signing thedemerger deed are completed, the operation will become effective in the fourth quarter of2013; an adjustment mechanism will come into operation based on the balance sheet at theeffect date of the demerger.27Following the completion of the demerger the share capital of Edipower S.p.A. will be made upas follows: A2A S.p.A. 71%, Dolomiti Energia S.p.A. 8.5%, SEL S.p.A. 8.5%, Mediobanca 5.1%,Fondazione CRT 4.3%, BPM 2.6%.As the result of this operation A2A S.p.A. will be able to fully dispatch the installed capacity ofthe plants of Edipower S.p.A., thereby optimizing the way in which the Group’s portfoliogeneration is managed. At the same time it will be possible for the initiatives aiming to increaseoperational efficiency to become practical by means of a more comprehensive integrationbetween A2A S.p.A. and Edipower S.p.A..