MADRID, 13 May. (EUROPA PRESS) –
The EQT fund has presented an acquisition offer for the Swedish renewable solutions company OX2, valuing the company at 16,351 million crowns (1,398 million euros), as confirmed by the parties.
Specifically, EQT proposes to pay 60 crowns in cash for each OX2 share, which represents a premium of 43.4% over the price marked at the close of last Friday’s session.
In this regard, the independent committee of the OX2 board to evaluate the offer has unanimously recommended that shareholders accept EQT’s offer.
Likewise, the company’s founder and largest shareholder, Peas Industries, which controls 45.6% of OX2’s shares and votes, has committed to accept EQT’s offer, regardless of whether a higher competitive offer is made.
In its assessment of the bid, the independent tender committee believes that EQT’s significant experience and expertise in the renewable energy sector, as well as its proven track record of supporting companies through capital-intensive transitions, makes them a strong owner suitable to direct and support the company’s suggested transition.
However, while the independent bid committee believes that EQT would be a good owner of the Company, it notes that completion of the bid is conditional on it being accepted to such an extent that the fund becomes the owner of more than 50% of the shares. OX2 stock.
Otello BidCo, the vehicle through which EQT is carrying out the transaction, expects to publish the offering prospectus on or about June 24 and the acceptance period is expected to begin on or about June 25, 2024 and expires around October 14, 2024.
OX2 has been present in Spain since 2022, where it currently has a portfolio of nearly 300 MW of onshore photovoltaic and wind projects, in different stages of development, located in several autonomous communities.