La Française de l'Energie S.A. (ENXTPA:FDE) agreed to acquire unknown minority stake in Greenstat AS for ?2.5 million on January 16, 2024. The transaction comprises three equity tranches over a period of 18 months. In 2023, Greenstat achieved revenues of ?6.2 million. The first tranche, to be completed by February 9, 2024, involves the purchase of an existing investor?s shares for c. ?2.3 million and the subscription of new shares in Greenstat for c. ?13.2 million, providing FDE with a controlling stake in Greenstat of 56.35% of its share capital and voting rights. A second tranche of up to ?13.2 million and a third tranche of up to ?13.2 million will be invested into Greenstat, subject to the company reaching certain operational and financial milestones. The transaction will be financed by the group's available cash. The completion of the transaction is subject to final closing conditions and the approval of Greenstat shareholders at their upcoming general meeting.

La Française de l'Energie S.A. (ENXTPA:FDE) completed the acquisition of unknown minority stake in Greenstat AS on February 29, 2024.