The Securities Market Commission (CMVM) suspended trading of Greenvolt shares this Thursday following the announcement of a public acquisition (OPA) by a fund managed by North American company Kohlberg Kravis Roberts (KKR).
“The Board of Directors of the Securities Market Commission (SMCC) determined on December 21, 2023 at 07:48 (UTC) in accordance with Article 214 and paragraph b) of paragraph 2 of Article 213 of the Securities Code, the suspension of trading in shares of Greenvolt Energias Renováveis SA in connection with with a proposal for public acquisition,” says the information available on the company’s website.
The infrastructure fund managed by the North American investment company Kohlberg Kravis Roberts (KKR) announced this Thursday an offer to acquire the Portuguese Greenvolt group – Energias Renováveis.
According to a statement sent to CMVM, the Luxembourg-based fund Gamma Lux has formally launched a “general and voluntary public offer to acquire all shares” of Greenvolt.
The launch of this offer became mandatory after the KKR-managed fund signed contracts to buy a total of 60.86% of Greenvolt shares from the company’s seven shareholders, led by João Manso Neto.
The acquisitions must only be completed from May 31, 2024, after approval from the Portuguese Competition Authority and counterparts in Romania, Ireland, the UK and Germany, noted the same.
Gamma Lux’s offer to shareholders of the Lisbon Stock Exchange includes the purchase of each Greenvolt share for 8.3 euros, 11.5% above the group’s share price at the close of the session on Wednesday.
The KKR-managed fund also highlighted that the offer represents “a premium of 95.3% to the initial public offering price on July 15, 2021.”
In January, Greenvolt announced an agreement with KKR to issue €200 million in seven-year bonds that can be converted into shares in the company.
KKR is “the world’s leading investment firm offering alternative asset management, capital markets and insurance solutions,” Greenwalt explained at the time. He is also a shareholder in the Chinese technology company ByteDance Ltd., whose subsidiaries include the social network TikTok.
Author: Lusa
Source: CM Jornal
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