J&T Finance Group AS, the Slovakia based financial services company, has agreed to acquire International Power Opatovice AS, the Czech Republic based company engaged in providing electric power, heat and building materials, from International Power Plc, the listed UK based power generation company, for an enterprise value of CZK 22.5bn (EUR 863.94m), including existing project level debt of CZK 4.8bn (EUR 184.31m).International Power will gain cash proceeds of CZK 17.7bn (EUR 679.63m) from the sale.
 
The transaction includes International Power Opatovice's interests in its subsidiaries Prazskss Teplssrenskss and Energotrans. The company holds a 49% stake in Prazskss Teplssrenskss, the Czech Republic based company engaged in the district heating business, which in turn holds a 100% stake in Energotrans, the 352MW (172MW net) combined heat and power plant. International Power Opatovice also owns and operates a 363MW Opatovice coal-fired combined heat and power plant, located in Prague.

~ Mergermarket

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