EQT Infrastructure announces a voluntary takeover bid for Solarpack, a developer and owner of solar photovoltaic plants, mainly active inSpain ,Chile andIndia
EQT Infrastructure has signed irrevocable agreements with the Vendor Shareholders to sell their full stake of 50.957 percent in the context of the takeover bid
Earlier today, Veleta BidCo S.à r.l., a special purpose company indirectly wholly owned by the EQT Infrastructure V fund ("the Bidder" and "EQT Infrastructure", respectively) announced a voluntary takeover bid for 100 percent of the share capital of Solarpack Corporación Tecnológica, S.A. ("Solarpack" or the "Company"). Prior to the announcement,
The consideration offered by the Bidder to all the shareholders of the Company is
- 45.0 percent over the closing price of the shares of the Company on
15 June 2021
(EUR 18.28 ); -
35.1 percent over the volume weighted average price of the shares of the Company during the three-months period ending on
15 June 2021 (EUR 19.62); -
16.6 percent over the volume weighted average price of the shares of the Company during the six-months period ending on
15 June 2021 (EUR 22.73).
The offer will be conditional upon reaching a minimum acceptance level of 75 percent plus one share (including the shares owned by the Vendor Shareholders), as well as receipt of Spanish antitrust authorities' approval. The Bidder intends to seek the delisting of the Company's shares, subject to applicable regulatory approval and corporate consents and formalities.
Solarpack is a geographically diversified solar PV developer and independent power producer. Since its inception in 2005, Solarpack has developed/built approximately 1.3 GWs across eight countries, mainly in
EQT is being advised by
Please find the public announcement on the following link: http://cnmv.es/portal/Informacion-Privilegiada/Resultado-IP.aspx?nif=A95363859&lang=en
With this transaction, EQT Infrastructure V is expected to be 30-35 percent invested (including closed and/or signed investments, announced public offers, if applicable, and less any expected syndication) based on its target fund size, and subject to customary regulatory approvals.
Contact
EQT Press Office, press@eqtpartners.com, +46 8 506 55 334
About EQT
EQT is a purpose-driven global investment organization with more than
More info: www.eqtgroup.com
Follow EQT on LinkedIn, Twitter, YouTube and Instagram
https://news.cision.com/eqt/r/eqt-infrastructure-announces-a-voluntary-takeover-bid-for-solarpack--a-spanish-renewable-energy-deve,c3368151
https://mb.cision.com/Main/87/3368151/1432674.pdf
(c) 2021 Cision. All rights reserved., source