Sev.en Zeta a.s. (CZ) entered into an agreement to acquire Alpiq Generation (CZ) s.r.o. from Alpiq Holding AG (SWX:ALPH) for €280 million on May 16, 2019. Alpiq Generation (CZ) s.r.o. will use a new name, Teplárna Kladno s.r.o. The transaction is subject to the usual conditions for closure, particularly the approval of the Czech competition authorities. As of August 1, 2019, The Office for the Protection of Competition (ÚOHS) approves the merger. The transaction is expected to close in second half of 2019. The proceeds of the transaction will be used for the further development of growth areas and for the further optimization of the balance sheet. The transaction will result in a net cash inflow of approximately €250 million. Alexander Alting von Geusau, Alex Pyatov, Raphaëlle Carton de Tournai and Davy Yeung of ING Corporate Finance acted as financial advisor to Alpiq AG. Iva Bilinska, Jakub Cech, Lucie Cerna and Prokop Verner of Allen & Overy Prague acted as legal advisors to Alpiq Holding. Lukas Janicek of CMS Cameron McKenna Nabarro acted as legal advisor for Sev.en Zeta a.s. (CZ). PricewaterhouseCoopers Ceská republika, s.r.o. acted as financial advisor to Sev.en Zeta a.s. (CZ). Sev.en Zeta a.s. (CZ) completed the acquisition of Alpiq Generation (CZ) s.r.o. from Alpiq Holding AG (SWX:ALPH) on August 30, 2019.