Eggborough Power Station To Be Bought
8:27am 5th November 2014
(Updated 9:22am 5th November 2014)
Transaction completion is subject to approval by the European Commission.
Eggborough is an independent power producer located in North Yorkshire with a c. 2GW coal-fired power station comprised of four units which supplies c. 4% of the power in the UK, equivalent to powering c. 3 million homes. It employs c. 300 full time staff members.
Neil O’Hara at Eggborough said:
“We are pleased that EPH has made this investment and look forward to working closely with them.”
Daniel Kretinsky, Chairman of EPH said:
“The acquisition of Eggborough power plant reflects our genuine interest in the UK market and our appreciation of the highly competent management, skilled employees, technology and location of the plant.”
EPH is a leading Central European energy group operating mainly in the Czech Republic, Slovakia and Germany. It is a vertically integrated energy utility covering the complete value chain in the energy sector. It includes 40 companies operating in coal extraction, electricity and heat production from conventional and renewable sources, electricity and heat distribution, electricity and gas trading and supply to end users. EPH is also the gas industry leader in Slovakia and the key shipper of natural gas from Russia to the European Union. The companies in the group employ more than 10,000 people. EPH’s generating plants currently have a total installed electrical capacity of almost 1,750 MW and their annual output is approximately 8.5 TWh. This transaction marks EPH’s first acquisition in, and entry into, the UK market.
Rothschild acted as financial adviser and Linklaters LLP as legal adviser to the selling shareholders of Eggborough and White & Case LLP as legal adviser to EPH.
Minster FM spoke to Selby and Ainsty MP Nigel Adams:
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