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Definition of the group%u2019s organisational macrostructures, definition of the role to be played by the main structures, which are the holding company and the operating companies
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Hera came to be on 1 November 2002, from the merger of 12 multiutility companies operating in adjacent areas in Northern Italy, with the objective of improving the quality of the services to citizens. 139 municipalities are Hera partners. The operating companies integrated within Hera are: AMF (Faenza), Ami (Imola), Amia (Rimini), Amir (Rimini), Area (Ravenna), ASC (Cesenatico), Geat (Riccione), Seabo (Bologna), Sis (S.Giovanni in Marignano), Taularia (Imola), TeAm (Lugo) and Unica (Fori-Cesena)
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The listing on the stock exchange took place in June 2003, with a float equal to 44.5% of its capital.
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Hera%u2019s business plan which was based on the integration of the companies was rewarded. The contest for the acquisition of 42% of Agea of Ferrara ended in favour of Hera SpA. The offer presented by Hera for the acquisition of 42% was 7.5% higher than the starting bid which was 44 million Euro. The acquisition of the Agea share is in line with the strategic objectives that are pursued by the Group, based on a model focusing on integration and the significant synergies that it makes possible.
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The Boards of Directors of Hera S.p.A., Agea S.p.A. and Acosea S.p.A., a company controlled by Agea S.p.A., approved the integration of Agea S.p.A. into Hera S.p.A.
The integration involves a merger by incorporation and the concurrent spin-off of the Acosea water cycle branch with Hera as the beneficiary, and the attribution of the remaining Networks branch to a newly established company, Acosea Impianti S.r.l. -
Hera has concluded the acquisition of 15% of the share capital of Calenia Energia, the company that will create the 800 MW combined cycle power plant in the municipality of Sparanise. Swiss company EGL, which holds the remaining 85% of the capital, will be Hera%u2019s partner in this initiative.
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Today the public deed of the merger of Agea S.p.A. into Hera S.p.A. and the concurrent total spin-off of Acosea S.p.A. in favour of Hera S.p.A. were finalized.
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Through the acquisition of 39% of SET S.p.A. from Rtia Energie AG, Hera Spa participates in the construction and management of the 400 MW combined cycle power station under construction in Teverola (CE).
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The Borsa Italiana has officially announced the composition of the new reference basket.
Following the half yearly review of the Midex index, the Hera Group was included in the baskets that contain the top 25 medium capitalization companies. The reasons for this inclusion are to be found in the value of the average daily exchanges in 2004, which has almost tripled to go from 800,000 Euro to 2,285,000 Euro in 2004. -
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The union of Hera and Meta is underway: The B.o.D.s of the two companies have approved the merger by incorporation of Meta into Hera and concurrently the B.o.D. of Hera has resolved to make a voluntary and partial takeover bid of 29% of Meta%u2019s share capital.
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After the merger, the Hera Group will become the second largest operator in the sector, with sales of approximately 1.8 billion Euro.
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In today%u2019s meeting, the B.o.D. of Hera S.p.A. resolved to begin the procedure of issuing a bond on the international market of a value between 400 and 500 million Euro, aimed at handling the Group's development process which have already been announced, including the integration of the Modena company. JP Morgan, Citibank and Banca IMI will be book runners for the execution of the placement on international markets, which should occur within the next three months.
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The transaction, the value of which is estimated at 12.5 million Euro, will allow Hera to continue the consolidation process within its area of reference. In 2005, this consolidation involved the integration of Meta and the acquisition of three local operators. The Geat Distribuzione Gas transaction represents a significant milestone that allows for the creation, together with the equity investment in SGR Servizi already underway, of a core business in the province.
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Moody%u2019s, a leading international agency, has for the first time assigned a rating of A1 to Hera, with a stable outlook. This rating reflects the financial solidity of the Group and assumes even greater value in view of the upcoming issuing of a bond on international markets.
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The Hera Group made investments of over 331 million Euro in 2005, of which 22.8 million were in Forl-Cesena, where the economic return amounts to almost 100 million Euro. Among the 2006 objectives is growth of up to 35% in the usage of renewable sources for the production of energy: in Forl-Cesena particularly, Hera intends to extend district heating to approximately 30,000 residences over the next 10 years.
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Hera and Enel signed the final contract for the acquisition by Hera of Enel's distribution network for 18 Modena municipalities, against a consideration of approximately 107.5 million Euro. The acquisition by Hera is in execution of the preliminary agreement concluded on 13 March 2006, the suspensive conditions of which were fulfilled in the meanwhile. The acquisition will be effective as from the end of June
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Today the deed for the merger by incorporation of Geat Distribuzione Gas S.p.A., the company that distributes gas in the Riccione area, into Hera S.p.A. was concluded and the statutory effects thereof will commence as from 1 July 2006.
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Today the purchase by the Hera Group of 2,512,488 shares of Aspes Multiservizi, the company that handles water, energy and environmental services in the Pesaro area, was concluded. The transaction is an important step in the consolidation of the relation with public sector partners in the Pesaro area and the further development of the company. Aspes Multiservizi is a solid entity that has very strong roots in the area.
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Last night the purchase deed for the acquisition of 46.5% of SAT Spa against a consideration of 34 million Euro was signed, following the award of the contract in the first half of 2006. The remaining portion of 53.5% of the share capital is held by the municipalities of Sassuolo, Formigine, Maranello, Fiorano and Serramazzoni.
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Today in Algiers, the Hera Group, Enel and Edison and Algerian company Sonatrach, a global giant in the gas sector, signed an agreement in the presence of Prime Minister Romano Prodi, for the sale and purchase of one billion cubic meters per year of natural gas, thus taking a significant step in strengthening the partnership that began in 2002. The agreement stipulates that the procurement to Hera will continue for 15 years, starting from the time the Galsi pipeline will be in operation. This p
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Following the merger agreement between Megas of Urbino and Aspes Mutiservizi of Pesaro, a new company, Marche Multiservizi will be formed, of which the Hera Group will hold 41.8% and Megas Trade which currently sells gas and electricity in the Urbino area, will be sold to Hera.
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The transaction will result in a new company, Marche Multiservizi that will be the second largest operator in the region, with sales in 2006 of over 110 million Euro and an EBITDA of over 15 million Euro, of which the Hera Group will hold 41.8%. As part of the transaction, Hera will also acquire Megas Trade, which has over 35,000 gas customers in the Pesaro-Urbino area.
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The Hera Group and BNP Paribas London signed today an agreement for a 200 million Euro extendable put bond (private placement), which has been rated %u201CA%u201D by Standard & Poors.
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Today, before the Secretary of State for Foreign Affaire, the Honourable Fiorenzo Stolfi, the Secretary of State for Industry, Commerce and Small Business, the Honourable Tito Masi, the President of the Hera Group, Tomaso Tommasi de Vignano and the Managing Director of VNG Gerhard Holtmeier, a letter of intent was signed by San Marino, the Hera Group and VNG.
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The Hera Group rose once again among the ranks of the eighty companies with the highest stock market capitalization for the best on line communication. Among Italian multiutility companies, Hera is the one to have received the best grade and now ranks among the top ten, at 6th place, trailing only large Italian groups. Hera also received honourable mention for the speed and care with which it published its financial statements, making it possible to view the on line version of the statements.
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The Hera Group obtained first place in the %u201CEnvironmental and Social Accountability Systems%u201D category in the 3d Premio Qualit Confservizi: in particular, Confservizi wished to commend the agency for its important work in analysing and monitoring the policies set up in these areas. The 3d awards focused on Best Practices in Corporate Social Responsibility, an area which Hera has focused its attention on.
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Hera wins the Oscar di Bilancio [financial statement oscar] for 2007: the prize which is organised and awarded by Ferpi, Federazione Relazioni Pubbliche Italiana, under the auspices of the President of the Republic of Italy, rewards the companies that have distinguished themselves for transparency, speed and information quality and has been awarded to major Italian companies since 1955 (Fiat, Rcs, Sip, Pirelli, Eni and Enel, to mention only a few).
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Inaugurated today by the Hera Group the %u201CRegional remote control hub for networks", the largest centre in Italy insofar as number of services and remotely controlled points and one of the largest in Europe, using state of the art technology, comparable only to the operating centres that monitor transportation systems and electricity networks. An intelligent network that employs a complex system of network and plant sensors, to ensure electronic, centralized management in real time.
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The senior management of Enia, Hera and Iride have signed a letter of intent for the realization of a project that provides for complete industrial and corporate integration of great strategic value. This will allow for the establishment of the top Group in Italy with multi-regional coverage and a primary role in the national public utilities market. With the signing of the letter of intent, the companies committed to define the contents of the project.
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A ten-stage itinerary so the public can discover the Granarolo plant in Emilia (Bologna)
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In 2009 work finished on an 80 MWe cogeneration plant in Imola (Bologna), completing the latest construction project in Italy.
This is an ultra-modern power station in both technical and architectural terms, located in the urban area and able to ensure the city's complete. -
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All 225 municipalities in which Hera manages the water service adhered to the Water Manifesto, signed on 20 January in Venice.
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The multiutility company is among the 25 "Top Employers" Italia, the human resources ranking produced by Dutch institute Crf
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The company is rewarded for its commitment to the renewable energy sector
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Hera Group and a company controlled by EISER Infrastructure Limited (Ambiente Arancione Cooperatief U.A) have signed today a binding agreement for the acquisition of a 20% stake in the share capital of Herambiente, the holding company of the Hera Group in the environment business.
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