Edp S.a. · EURONEXT:EDP
Edp — Merger or Acquisition (July 2009)
8 slides from Edp's merger presentation, Jul 21, 2009
Slide 1: Acquisition of Gas Assets in Spain from Gas Natural
EDP Acquisition of Gas Assets in Spain from Gas Natural July, 21st 2009 0
Slide 2: Transaction summary
Transaction summary • Naturgas (64% owned by EDP) signed a Sale and Purchase agreement with Gas Natural for the acquisition of low pressure gas distribution networks and supply clients in the regions of Cantabria and Murcia, and high pressure gas networks in the regions of Asturias, País Vasco and C
Slide 3: Assets being acquired: strong strategic fit with EDP's portfolio and growth potential into new regions
Assets being acquired: strong strategic fit with EDP’s portfolio and growth potential into new regions Low Pressure Gas Distribution Network: bar<4 (Cantabria and Murcia) Network extension (km) 2,394 Points of supply(2) (‘000) 248 Gas distributed (TWh) 3.5 High Pressure Gas Distribution Network: 4<b
Slide 4: Current transaction provides exceptional occasion to reinforce EDP's position in Iberian gas distribution market
Current transaction provides exceptional occasion to reinforce EDP’s position in Iberian gas distribution market Iberian market share – Post-deal (2) (points of gas supply) Willing seller event deriving from remedies imposed by the Spanish CNC: 5.6 Assets being acquired • Allows acquisition at inter
Slide 5: EDP gas regulated activities in Iberia: Acquisition fuels double digit growth rates
EDP gas regulated activities in Iberia: Acquisition fuels double digit growth rates Points of supply (‘000) Gas Distributed (TWh) CAGR Post-acquisition Assets now acquired CAGR Post-acquisition Assets now acquired CAGR Pre-acquisition EDP gas distribution Iberia CAGR Pre-acquisition EDP gas distribu
Slide 6: Transaction valuation multiples
Transaction valuation multiples Enterprise Value €330m • Low risk business with stable regulated remuneration indexed to evolution of EBITDA 2010 E (1) €35m number of supply points, gas volumes distributed and HPI (3) Points of Supply 2010 E (th) 259 • Eventual convergence to RoRAB system would impl
Slide 7: Conclusion: Strategic fit and strong potential for value creation
Conclusion: Strategic fit and strong potential for value creation Reinforcement of EDP’s #2 position in gas distribution in Iberia; #clients connected > 1 million Synergies: Good geographical fit and economies of scale with EDP’s existing operations Unique opportunity in an attractive regulated busi
Slide 8: EDP - feel our energy
&) edp feel our energy