TerniEnergia, a smart company listed on the MTA of Borsa Italiana and part of the Italeaf Group, announces nnounces that it has finalized and signed all the deeds relating to the sale of two business units relating to energy efficiency interventions to Estra Clima Srl, a company of Estra Group, one of the leading player in the distribution and sale of natural gas in Central Italy, active in the sale and procurement of electricity, as well as in telecommunications, in the design and management of energy services and in the power generation from renewable sources.
The company branches to be sold, with the relative financial and trade debts, refer to two energy efficiency lighting projects on behalf of two Tuscan municipalities, including the integrated management, ordinary and extraordinary maintenance of public lighting systems.
The effects of the transaction are subject to the formal consent of the two municipalities to transfer the contract to Estra Clima Srl within 45 days from the request, and to other technical-contractual conditions typical of this type of transaction.
The value of the two branches sold is equal to Euro 1.4 million gross of the debt relating to the financial lease on the plant of one of the two municipalities for Euro 0.45 million (inclusive of VAT) and trade debts for approximately Euro 0.25 million, as well as the value of some works to be carried out at charge of Estra Clima for approximately Euro 0.17 million. Payment will be made in cash: 90% of the collection, which is made up of the first three tranches, is subject to the fulfilment of the above conditions precedent, while the remaining 10% will be paid 6 months after the fulfilment of the above conditions.
For TerniEnergia, the transaction represents a new, important part of the recovery and relaunch plan, aimed at completing, in the medium term, the transformation of the Company into a smart company and the overcoming of the current situation of financial tension of the Group, based on strategic guidelines identified by the Board of Directors.