Hellenic Petroleum S.A. announced on 23 October, within the framework of the agreement to form a strategic alliance with Italy’s Edison SpA that was signed on 3 July 2008, the merger through absorption of Thisvi SA (which was 65%-owned by Elpedison BV and 35%-owned by Hellenic Energy & Development SA and Halcor SA) with Energiaki Thessalonikis SA, which has been renamed to Elpedison Power Generation SA (was 100%-owned by Elpedison BV). Energiaki Thessalonikis SA owns a 390MW CCGT power plant (in operation) in Thessaloniki, Greece, while Thisvi SA owns a 420MW CCGT power plant (under construction) in Thisvi, Greece. Following the merger and pursuant to the agreement, 21% of Elpedison Power Generation SA was transferred by Elpedison BV (a 50/50 joint venture between Hellenic Petroleum and Edison) to Hellenic Energy & Development SA and Halcor SA The consideration amounts to €30.7 million. Currently, and in line with the strategic alliance agreement, Elpedison BV owns a 75% stake in Elpedison Power Generation SA, with the remainder owned by Hellenic Energy & Development SA (22.5%) and Halcor SA (2.5%).