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Each EMAT Report includes the detailed analysis of the transaction: deal rationale and structure, target business lines and financials (restated), valuation multiples (calculation and analysis).

 

 

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EPSILON M&A DEAL REPORT

Transaction Multiples for the Valuation of Private Companies

Terna Linee Alta Tensione / Reti Trasmissione Energia Elettrica ASM (Retrasm)

20445
22/12/2009
Acquisition of Majority Stake
Yes
Terna Linee Alta Tensione

Reti Trasmissione Energia Elettrica ASM (Retrasm)
Italy
Retrasm manages a part of the National Transmission Grid (NTG) for electricity transportation and transmission equal to approximately 180km of lines and two sub-stations including the NTG...

Transaction multiples available
EV/
Sales
EV/
Gross Profit
EV/
EBITDA
EV/
EBIT
Eq/
PBT
P/E Price
to Book
Specific
multiple(s)
Historic - - - - - -
Current - - - - - -
 
Multiple available
n.s.   Multiple calculated, but not significant

Source: Epsilon Research / EMAT

Comparable Transactions

  • Number of EMAT Reports / sub-sector « Utilities » = 41
Example of comparable transactions on EMAT (same sub-sector):
DateAcquirerTargetCountryMultiplesSee details
08/01/2009 RWE Essent Netherlands
19778
22/05/2009 Ascopiave Pasubio Servizi Italy
20084

Source: Epsilon Research / EMAT