Brief: Hungary's MOL to acquire stake in energy firm Alteo
17/12/2022 07:22
Dec 17 (Reuters) - MOL Magyar Olaj- es Gazipari Nyrt
MOLB.BU :
* ITS MOL RES UNIT ACTING IN CONCERT WITH TWO LOCAL PRIVATE
EQUITY
FUNDS HAS SIGNED AN AGREEMENT TO ACQUIRE A MAJORITY STAKE AND
JOINT CONTROL IN ALTEO -STATEMENT
* ALTEO HAS A DIVERSE PORTFOLIO OF 69 MW RENEWABLE ENERGY
GENERATION, WHILE CONVENTIONAL POWER AND HEAT PRODUCTION IS ALSO
A SIGNIFICANT PART OF ALTEO'S BUSINESS MIX
* ALTEO PROVIDES OPERATION AND MAINTENANCE SERVICES FOR
INDUSTRIAL
POWER PLANTS AND IS ACTIVE IN ENERGY TRADING, WASTE MANAGEMENT
AND E-MOBILITY
* ACQUISITION WOULD ENABLE MOL TO INCREASE ITS FOOTPRINT IN
GREEN
POWER GENERATION AND TRADING IN LINE WITH ITS 2030 STRATEGY
* EACH PARTY ACTING IN CONCERT HAS SIGNED A SHARE PURCHASE
AGREEMENT WITH WALLIS ASSET MANAGEMENT TO JOINTLY ACQUIRE 9.99%
OF ALTEO SHARES AT HUF 2,872 PER SHARE
* THE PARTIES SUBSEQUENTLY SIGNED AN AGREEMENT WITH WALLIS
AM TO
PURCHASE 51.567% OF TOTAL SHARES OUTSTANDING FOR HUF 2,872 PER
SHARE THAT WILL BE ACQUIRED IN EQUAL PROPORTION BY THE PARTIES
ACTING IN CONCERT
* MOL RES, AS THE OFFEROR DESIGNATED BY THE PARTIES ACTING
IN
CONCERT, HAS PLACED A MANDATORY PUBLIC TAKEOVER BID FOR ALL
SHARES IN ALTEO
* THE OFFERED PURCHASE PRICE OF THE MANDATORY PUBLIC
TAKEOVER BID
AMOUNTS TO HUF 3,040 PER SHARE
* THE SHARES ACQUIRED IN THE MANDATORY PUBLIC TAKEOVER OFFER
WILL
BE DISTRIBUTED IN EQUAL PROPORTION BETWEEN THE PARTIES ACTING IN
CONCERT
* SECOND AND THIRD STAGE OF TAKEOVER BID SUBJECT TO
HUNGARIAN
CAPITAL MARKET, UTILITIES AND COMPETITION OFFICE APPROVAL
Further company coverage: MOLB.BU ALTS.BU
(Reporting by Gergely Szakacs)
((gergely.szakacs@reuters.com ; https://twitter.com/szakacsg ;
+36 1 882 3606 ;
https://www.reuters.com/journalists/gergely-szakacs))