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You are in: H1 2010 Directors' Report » Significant Events after Year-End

Significant Events after Year-End

Agea Reti Srl

Effective 15 July 2010, the merger by incorporation of Agea Reti Srl, a company managing gas networks in the area of the province of Ferrara, into Hera Spa was completed.

This transaction costs caused no changes in the authorised share capital of Hera Spa, inasmuch as Agea Reti Srl was already wholly owned by Hera.

Herambiente Srl

In 27 July 2010 Hera and EISER Infrastructure Limited (Ambiente Arancione Cooperatief U.A) signed a binding agreement for EISERís purchase of 20% of the share capital of Herambiente, with the option to purchase up to an additional 5% of the companyís share capital within 3 months from the finalisation of the purchase of 20%.

The amount agreed for the 20% share is Euro 105.6 million, subject to adjustment at the closing based on the change in the net financial position from 31/12/2009 to 30/06/2010.

The option to purchase up to an additional 5% of share capital will be exercised at the same price per share agreed for the 20%.

Finalisation is subject to authorisation from the Antitrust Authority, and is expected for September 2010.

Satcom Spa / Acantho Spa

On 03 August 2010 the merger by incorporation of Satcom Spa into Acantho Spa, a company 62.5%-owned by Hera Spa and operating in the telecommunications sector, was signed. This merger shall take effect from 1 September 2010.

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