Terna — M&A Activity 2019

Dec 20, 2019

TERNA: AGREEMENT SIGNED FOR THE ACQUISITION OF BRUGG KABEL AG (BRUGG GROUP)

Strengthening the know-how in the field of underground connections

Rome, 20 December 2019 – Today, Terna S.p.A. ("Terna") signed an agreement to acquire 90% stake in the share capital of Brugg Kabel AG (Brugg Group), one of the leading operators in the underground-cable sector, designing, developing, creating, installing and maintaining electrical cables of all voltage levels and accessories for high-voltage cables, for an amount, which will be defined at the closing of the deal, of an Equity Value of around 13 million Euro for 90% of the company.

Closing of the deal, which Terna will finance with its own resources, is expected during the first quarter of 2020, subject to certain mandatory conditions, including communication to the Italian Antitrust Authority.

Acquisition of Brugg Kabel, will allow Terna to acquire a centre of excellence for research, development and testing of one of the core technologies for the TSO, such as underground cables.