The agreed company value amounts to EUR885m. The purchase price as of February 25, 2010, is based on the net financial position of transpower on December 31, 2009, which was determined to be approximately EUR1.1bn. This sum includes transpower’s current liquid assets as of the reference date.
The sale of its extra-high transmission network to TenneT means that E.ON has nearly fulfilled the agreements reached with the European Commission. transpower evolved from E.ON Netz in 2009 when the company was split into two separate entities in order to fulfill arrangements agreed upon with the European Commission.
The management of the additional capacity of 11,000km long extra-high voltage grid (220/380 kV) was transferred to transpower. It has four branches in Germany (in Bayreuth, Bamberg, Dachau and Lehrte).
TenneT is currently working on the integration plan, which will establish the future structure and strategic aims of the new company.
