In implementation of the sale agreement signed on 9 December 2015 between Terna, Ferrovie dello Stato Italiane and Rete Ferroviaria Italiana, Terna today purchased from FS the entire share capital of S.EL.F. – Electric Railway Company Srl, which following the Shareholders' Meeting held at the same time as the closing was renamed Rete Srl
The completion of the transfer took place following the occurrence of the conditions to which the effectiveness of the contract was subject, including the authorization by the Competition and Market Authority and the failure to exercise the special powers referred to in Article 2 of the decree law 15 March 2012 n. 21 (so-called Golden Power), conditions already illustrated to the market in the information document relating to the acquisition transaction published, pursuant to art. 5, paragraph 3, of the "Regulation containing provisions on transactions with related parties" (adopted by Consob with resolution no. 17221 of March 12, 2010 and subsequent amendments), on December 16, 2015.
Under the terms of the operation, they will be 7.510 km of high and very high voltage power lines, 869 km of power lines already part of the NTG, for a total of 8.379 km of power lines, and 350 electricity substations are included within the National Electricity Transmission Network (“NTG”). The scope of the operation - which is part of the process of unification and expansion of the NTG, which has already produced and will continue to generate substantial benefits for Italian businesses and households - also includes a contract for the passage of the optical fiber of property of BasicTel SpA
The integration of the SELF perimeter leads to a growth of around 13% in the total kilometers of power lines owned and managed by Terna which, with over 72 km, confirms itself as the leading independent operator in Europe.
