The offer to purchase Greenvolt was launched on December 21 last year by the Gamma Lux infrastructure investment fund, based in Luxembourg and managed by KKR. In the meantime, the company GVK Omega was created this year, with headquarters in Lisbon, to carry out the operation.
In a statement to the market, the CMVM informs that at the request of the consultancy Ernst & Young Audit & Associados (EY), it decided to “extend the deadline for sending the report justifying the consideration, until April 3”.
On January 31, 2024, the CMVM appointed — following a proposal from Gamma Lux Holdco — EY as an independent expert to establish the minimum consideration to be offered in the OPA.
The offer to purchase Greenvolt was launched on December 21 last year by the Gamma Lux infrastructure investment fund, based in Luxembourg and managed by KKR. In the meantime, the company GVK Omega was created this year, with headquarters in Lisbon, to carry out the operation.
On January 19, Greenvolt’s Board of Directors, led by João Manso Neto (in the photo), considered the value offered by KKR in the offer to purchase the Portuguese renewable energy group “fair”, maintaining that additional shareholder capital will allow “accelerating the business plan.”
Regarding the price of 8.3 euros per share offered, Greenvolt’s Board of Directors believes that “it is fair”, taking into account that “it represents a premium of 95.3% compared to the subscription price of the shares within the scope of the opening of capital and 47.7% compared to the subscription price of the shares within the scope of the 2022 capital increase”.
It also represents “a premium of 11.4% compared to the price on the day prior to the publication of the preliminary announcement and a premium of 32.1% compared to the weighted average price of shares in the six months prior to the day of publication of the preliminary announcement”, being “in line with the results of the ‘fairness opinions’ prepared by Lazard and Millenniumbcp, which consider the value to be fair”.
Tags: CMVM extends deadline set minimum consideration OPA Greenvolt Markets
