• Finalization of the sale of 60% of the share capital of the BiOlevano Srl subsidiary
  • The transaction is expected to generate a total cash flow for the Group of about €78 MN

Milan, 30 June 2015Maire Tecnimont S.p.A. announces that, through its subsidiary Tecnimont S.p.A, it has finalized the sale to Italian investors of the majority stake, equal to 60%, of the share capital of BiOlevano S.r.l. (BiOlevano), owner of the biomass power plant located in Olevano Lomellina.

The transaction, which is expected to generate an overall cash-in equal to approximately €78 million, includes: a cash-in at the time of closing equal to approximately €53.2 million, including the repayment of trade receivables pertaining to some subsidiaries of Maire Tecnimont Group; about €8.1 million to be paid within 3 years fom the closing date, as well as an additional €16.5 million approximately subject to the fulfillment of certain conditions.

At the same time as the sale and the subsequent exclusion from the consolidation perimeter, MPS Capital Services S.p.A. (Montepaschi Group) and Banca Popolare di Milano S.C.a.r.l.. disbursed a non recourse project financing to BiOlevano. Legance-Avvocati Associati law firm has been the advisor to the banks for the disbursement of the financing.

Banca IMI, UniCredit and Lombardi Molinari Segni Studio Legale have been the advisors to Maire Tecnimont for the disposal.

For Maire Tecnimont this transaction represents an important step forward in the disposal plan already announced to the market.

Maire Tecnimont S.p.A.

Maire Tecnimont S.p.A. is a company listed with the Milan stock exchange. It heads an industrial group (the Maire Tecnimont Group) that leads the international Engineering & Construction (E&C), Technology & Licensing and Energy Business Development & Ventures markets, with specific competences in plants, particularly in the hydrocarbons segment (Oil & Gas, Petrochemicals and Fertilisers), as well as in Power Generation and Infrastructures. The Maire Tecnimont Group operates in approximately 30 different countries, numbering around 45 operative companies and a workforce of about 4,300 employees, of whom over half work abroad. For more information: www.mairetecnimont.com.

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