VISION 2050 - Fluvius path to climate neutrality
Fluvius System Operator: creation through merger operation
Rationale for the merger of Eandis, Infrax and Integan:
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shared interests of Eandis and Infrax had increased over time
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energy transition and switch towards system operator role require a maximum of benefits of scale
eandis
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synergies will benefit consumers' end tariffs
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fully in line with Flemish Government's policy: one single Flemish multi-utility operating company
Important dates:
¯nfrax
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legal kick-off: 1 July 2018 - commercial kick-off: 7 February 2019
Legal aspects of the merger:
merger by absorption, followed by change of name into Fluvius System Operator
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shareholders: existing shareholders of Eandis, Infrax and Integan became shareholders of Fluvius System
Operator in a 'share-based only' transaction - no other direct impact on DSOs
bondholders: ex-Eandis bonds remain guaranteed by ex-Eandis DSO guarantors, ex-Infrax bonds remain
guaranteed by ex-Infrax DSO guarantors. Bonds issued by Fluvius System Operator are being guaranteed by
all Fluvius shareholders.
fluvius.
June 2022.
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