Rocío Servicios Fotovoltaicos entered into an agreement to acquire Grupo Ezentis, S.A. in a reverse merger transaction.
June 29, 2021
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Rocío Servicios Fotovoltaicos entered into an agreement to acquire Grupo Ezentis, S.A. (BME:EZE) in a reverse merger transaction on June 30, 2021. Under the transaction, Grupo Ezentis will issue 226,107 new Ezentis for for each of Rocío's share. as a result of which Rocío will will have 59.4% stake in Grupo Ezentis, S.A. The new corporate governance of Grupo Ezentis, S.A. will be composed of three proprietary directors, who will be the president, executive vice president and director of the company; three independent directors, who will preside over the audit and control and appointments and remuneration committees respectively, as well as a coordinating independent director; a Chief Executive Officer and other external directors. Transaction is approved by board of Grupo Ezentis, S.A. Transaction is pending approval of shareholders of Grupo Ezentis, S.A. and the National Securities Market Commission (CNMV). As per update on August 27, 2021, meeting for shareholders of Grupo Ezentis, S.A. is schedule to take place in September 2021.
Ernst & Young Corporate Services and KPMG Asesores S.L., Corporate Finance Arm acted as financial advisors to Grupo Ezentis. Clifford Chance S.L.P., J&A Garrigues, S.L.P. and Watson Farley & Williams Spain, SL acted as legal advisors to Grupo Ezentis. Deloitte & Touche Corporate Finance UK Limited acted as fairness opinion provider to Grupo Ezentis, S.A.
Grupo Ezentis SA, also known as Ezentis, is a Spain-based company engaged in the infrastructure and telecommunications sectors. The Companyâs activities are structured into three segments: Telecommunications, Electricity and Others. The Telecommunications segment provides design, construction, operation, as well as maintenance services of fiber optic and mobile telephone networks, among others. The Electricity area offers a variety of services within the electric power infrastructure, such as assembly of transmission and distribution lines, installation of substations, smart grids and maintenance of public lighting network. The Others segment encompasses operations in water, oil and gas, as well as mining sector, including construction, repairs, inspections, project management, and engineering services, among others. Ezentis operates through Comunicaciones Y Sonido Mexico SA de CV, Ingenieria Celular Panamericana SA and Gts Thaumat XXI SA.
GRUPO EZENTIS, S.A. 
