In mid-December Alpiq Holding Ltd. (Alpiq) announced that, as part of the ongoing restructuring programme, it will sell its shares in Romande Energie Holding SA (hereafter REH, Securities ID HREN, ISIN CH0025607331).
In a first tranche, REH purchased from Alpiq 71,257 REH shares at the price of CHF 1,100 per share. The purchase took place on 8 January 2013, making around CHF 78 million for Alpiq.
In a second step, REH is now exercising part of its option to buy 20,000 of the remaining 48,737 REH shares. This reduces Alpiq's stake in REH to less than 3%.
The transaction is a further stage in the current restructuring programme aimed at achieving a cash inflow of CHF 1.2 to 1.6 billion for Alpiq.