EP ENERGY ANNOUNCES THE SALE OF ITS GERMAN ASSETS TO ENERGETICKÝ A PRŮMYSLOVÝ HOLDING, A.S.
EP Energy, a.s. (“EP ENERGY”) today announced that on April 1, 2016 it sold 100% of the shares in JTSD Braunkohlebergbau GmbH (“JTSD”) to its parent company, Energetický a průmyslový holding, a.s. (“EPH”), for a purchase price of approximately €157million plus proceeds from a repayment of certain intercompany loans totaling €335million. JTSD is the holding company for EP Energy’s German operations, including its brown coal mining business and its interest in the Schkopau power plant.
Following the disposal of EP Energy’s shareholding in JTSD, JTSD and its subsidiaries (including EP Germany GmbH and Saale Energie GmbH) will no longer guarantee, or grant security for the benefit of the holders of, the Senior Secured Notes due 2018 and the Senior Secured Notes due 2019 issued by EP Energy. In addition, JTSD and its subsidiaries will no longer be subject to the covenants provided for in the indentures governing these notes.
For further information, please contact:
CE Energy, a.s.
Pařížská 130/26, 110 00 Praha 1
T: +420 232 005 312
F: +420 232 005 400