7/1/2009

J&T significantly strengthens its position in energy sector with acquisition of International Power Opatovice

J&T group confirms that it has signed an agreement with International Power to acquire all the assets of International Power in the Czech Republic. Henceforth, J&T acquires one hundred per cent stake in International Power Opatovice (IPO), as well as its equity interest in Pražská teplárenská (PT) and Energotrans (ET).

The abovementioned transaction is associated with an agreement with CEZ Group that the equity interest of International Power Opatovice in Pražská teplárenská will subsequently be sold to a CEZ Group.
The transaction takes place in cooperation with Dalkia as a part of a broader cooperation between Dalkia and J&T in energy sector of the Czech Republic.

"The interest in acquiring the International Power Opatovice is a logical step in fulfilling our long-term strategy of strengthening our position in the energy sector. We are now significantly closer to meeting our operational target of achieving one thousand megawatt of installed capacity in our power generation sources." said Daniel Křetínský, J&T partner for corporate investments and CEO of ENERGETICKÝ A PRŮMYSLOVÝ HOLDING, which is the currently being formed.

“Similarly as in case of other companies managed by our group, we intend to further develop the combined heat and power plant Opatovice and invest in the modernization of this heat and power generation asset. In the same time we are determined to maintain excellent relations with the city and the region. We also do not anticipate any significant change in current policy of combined heat and power plant Opatovice as regards the price of heat, "said Křetínský.

The acquisition of International Power Opatovice is carried out by J&T group. Subsequently, however, a transfer to the newly created ENERGETICKÝ A PRŮMYSLOVÝ HOLDING is assumed.
Transactions will be settled during the second half of 2009.
The parties have agreed that until the settlement of the transaction, no further information will be disclosed.

Mgr. Martin Maňák
Director of J&T Group Communication for Energy Sector
J&T Investment Advisors
Pobřežní 14, 186 00  Prague 8
Tel.: +420 221710163
Mobil: +420 606648659
Mail: manak@jtfg.com

author: Maňák Martin