OTI Energy : Pressemitteilung vom 26. November 2014

141126 release Idreg

Lugano, 26 November 2014
OTI Energy SA to acquire 19% in IDREG PIEMONTE S.P.A.
On 20 November 2014, OTI Energy SA has submitted an offer for the acquisition of
3.800.000 shares equal to 19% of the total share capital of IDREG PIEMONTE S.P.A., based in Alessandria, Italy to the court appointed commissioner who is in charge of disposing of said shares. In a bidding process conducted by the commissioner on 24 November 2014, OTI Energy AG has increased its previous written offer for acquisition of these shares to EUR 232'550, which offer was declared as winning bid by the commissioner in the absence of a higher offer. Completion of the transaction shall take place by 10 December 2014.
IDREG PIEMONTE S.P.A. owns 9 hydro power plants in the north western and eastern parts of Italy with an annual output of over 65 GWh and has generated an average annual turnover of roughly EUR 7,0 million in the last two years. The company is also an important engineering and M&O service provider for the hydro power sector.
This acquisition represents a further step in pursuing OTI Energy's development strategy in the hydro power industry.
Further inquiries: OTI Energy SA
Nicolò von Wunster, CEO

OTI Energy SA - Via Nassa 31 - Casella Postale 6199 - 6901 Lugano

Tel. [phone] - Fax [phone] - Iva nr. 753763

IDI nr. CHE - 101.017.162

Email: [e-mail]- www.oti-energy.ch