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You are in: H1 2010 Directors' Report » Corporate Events and Group Structure

Corporate events and Group structure

The first half of 2010 was characterized by continued rationalization of the Group's structure, which led to the sale or liquidation of 2 investee companies, 1 merger by incorporation, and 1 acquisition of an additional equity investment.

Already in 2009, rationalisation activities took place, which led to the sale or liquidation of 11 investee companies, the acquisition of equity investments in 8 companies and 4 contribution-in-kind transactions as well as 12 merger / spin-off transactions.

The following is a list of the main mergers and acquisitions that took place during the year:

Hera Comm Marche Srl / Aspes Gas Srl

Effective 1 January 2010, Aspes Gas Srl, wholly owned by Marche Multiservizi Spa, was merged by incorporation in Hera Comm Marche Srl, wholly owned by Hera Comm Srl, the purpose of both of the latter companies being the sale of natural gas and electricity to end customers.

Hera Comm Marche Srl’s share capital, which had previously increased from Euro 100,000 to Euro 700,000, rose to Euro 1,458,332 as a result of the aforementioned merger.

Following this transaction, 48% of the share capital of the company was held by Hera Comm S.r.l and the remaining 52% by Marche Multiservizi Spa

Subsequently, on 2 February 2010, 12% of the share capital of Hera Comm Marche Srl was sold by Marche Multiservizi Spa to Hera Comm Srl  Following this transaction, 60% of the share capital of Hera Comm Marche Srl is held by Hera Comm Srl and the remaining 40% by Marche Multiservizi Spa

Acef Srl

On 8 April 2010 the Shareholders’ Meeting of Acef Srl, a company that provides services related to the generation, sale and distribution of electricity, thermal energy and gas, resolved on the voluntary winding-up of the company.

As a result of this operation,the company is in liquidation.

Isgas Energit Multiutilities Scarl

On 10 June 2010 Hera Spa transferred to Mediterranea Energia Ambiente Spa its entire equity investment – equal to 5% of the share capital - in Isgas Energit Multiutilities S.c.a r.l., a company operating in the sector of public service concessions of gas production and distribution.

As a result of this operation, Hera Spa exited the shareholder structure of Isgas Energit Multiutilities Scarl.

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