HYDROITALIA: TRENITALIA-ENEL HYDRO-ENERTAD FORM NEW PARTNERSHIP

Published on Thursday, 27 February 2003

Rome, February 27, 2003 – The 50-50 joint venture set up by Enel Hydro (the Enel Group’s water treatment subsidiary) and Enertad S.p.A. (an environmental services company and a member of the Tad Group) has won an international tender called by Trenitalia (a Ferrovie dello Stato Group company) to sell 51% of Hydroitalia. Hydroitalia owns the largest waste water treatment network in Italy, with 46 plants located throughout the mainland and Sicily. Enel Hydro and Enertad will pay €30m for the 51% of Hydroitalia’s shares. Trenitalia, which will continue to hold a 49% stake in the company, has reserved the right to sell the remaining shares between 2007 and 2009 for a sum of no less than €35m. In addition to treating the waste water produced by the railway workshops operated by the shareholder, Trenitalia, Hydroitalia’s business will be based on providing integrated water treatment services to external customers.
Price Sensitive | February, 27 2003

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