The boards of directors of Tractebel and Electrabel have approved the transfer of Electrabel’s European electricity assets to Tractrebel. The sale involves purchase of Tractebel shares in power plants in Poland, Italy, Portugal and Hungary. These, together with Electrabel’s existing capacity in Belgium and its shareholdings in France and capacity in the Netherlands, Luxembourg and Germany, brings the total capacity managed by the company in Europe to 25 359 MW.
Tractebel will also acquire a 100 per cent share in all Electrabel ‘s European affiliates. These include Electrabel Nordic, Electrabel Deutschland and Electrabel Polska. Electrabel already held a 50 per cent stake in each of these companies. The total cost of the deal was 590 million euros.
