TERNA COMPLETED THE ACQUISITION
OF S.EL.F. – SOCIETÀ ELETTRICA FERROVIARIA S.R.L.
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Terna consolidates its leading position in Europe with over 72,000 km
electricity grid under management.
The deal is part of the process of unifying the national transmission grid, which has already
produced significant benefits for families and corporates and will continue to do so.
Rome, 23 December 2015 – In implementing the share purchase agreement (the Contract) signed
on 9 December 2015 by Terna S.p.A. (Terna), Ferrovie dello Stato Italiane S.p.A. (FS, the Italian
state railway) and Rete Ferroviaria Italiana S.p.A. (RFI, the Italian rail network operator), Terna has
today completed the acquisition of the entire capital of S.EL.F. – Società Elettrica Ferroviaria S.r.l.
(SELF) - from FS. Following the Shareholders’ meeting held at the same time the transaction was
finalised, SELF has been renamed Rete S.r.l.
The sale was concluded once the Contractual conditions precedent had been fulfilled. These
included the authorisation from the Italian Antitrust Authority and the non-exercising of the special
powers under article 2 of Decree-law no. 21 of 15 March 2012 (the “Golden Power”). The above
conditions had already been announced to the market by information document published on the
share purchase agreement, under article 5(3) of the “Regulations on Related-Party Transactions”
(adopted by Consob with resolution no. 17221 of 12 March 2010, as amended), on 16 December
2015.
Under the terms of the transaction, 7,510 km of high-voltage and very-high-voltage power lines will
be included in the National Transmission Grid (NTG), along with 350 electrical substations plus
869 km of power lines already part of the NTG, for a total of 8,379 km of power lines. The
transaction is part of the process of unifying and extending the NTG, which has already yielded
significant benefits for Italian families and corporates and will continue to do so. The deal also
includes an agreement for the housing of the fibre optic cables owned by BasicTel S.p.A.. The
incorporation of Rete S.r.l. (ex SELF) infrastructure increases the total kilometres of lines already
owned and managed by Terna by approx. 13%. With over 72,000 km of grid under management,
Terna confirms its position as the largest independent operator in Europe.