A2a has received a binding offer from Kkr Global Infrastucture Investors for the purchase of the French subsidiary A2a Coriance. The offer - explains the company in a note - provides for a price of 76,5 million for 100% of the capital of the transalpine company. The purchase contract will be finalized once certain activities required by French legislation have been completed. In 2011 the Coriance group achieved a turnover of approximately 100 million euros, with a gross operating margin of 17,6 million. At 30 June the consolidated net financial position of the Coriance Group was equal to 88,4 million.
The enterprise value of the transaction is approximately 160 million. "The decision to sell Coriance - underlines the multi-utility - derives from A2a's desire to proceed rapidly towards the improvement of its financial and equity situation". In fact, thanks to the transaction, A2a will improve its net financial position by around 160 million and will realize a capital gain of more than 30 million. The effects of the transaction will be effective in the second half of 2012. Once the contract has been finalised, the transfer will be subject exclusively to the approval of the competent competition authority.
