Altri hires Lazard to prepare listing of renewables unit in Lisbon
18/03/2021 18:31
LISBON, March 18 (Reuters) - Portugal's pulp producer Altri
ALSS.LS said on Thursday it had hired financial advisers
Lazard to prepare a stock market listing of its renewable unit
Greenvolt on the Lisbon bourse, as it aims to shift from biomass
to solar and wind energy.
Altri also picked former chief executive of EDP Renovaveis
EDPR.LS , Joao Manso Neto, to be the CEO of Greenvolt, it
added.
Greenvolt has five thermoelectric plants producing energy
from forest biomass, with about 97 MW of installed capacity.
"Greenvolt has an ambitious national and international
expansion project. Under the leadership of Manso Neto ...
Greenvolt intends to consolidate its leadership position in the
national market and assert itself as a reference player at the
international level," Altri said in a statement.
Biomass will remain its core business, but Greenvolt also
seeks to expand "through innovative models, of solar and wind
energy", it said.
Altri also mandated Portuguese law firm Vieira de Almeida &
Associados to study the Initial Public Offering at Euronext
Lisbon. Altri did not give further details, nor did it say when
the IPO could take place.
In July, a Lisbon judge ordered the suspension of the chief
executive of EDP-Energias de Portugal EDP.LS and Manso Neto,
who was then CEO of subsidiary EDP Renovaveis, as part of a
corruption investigation. urn:newsml:reuters.com:*:nL8N2ED3I7 EDP and the two former
CEOs denied any wrongdoing.
(Reporting by Sergio Goncalves; editing by Andrei Khalip and
Aurora Ellis)
((sergio.goncalves@thomsonreuters.com; +351213509204; Reuters
Messaging: sergio.goncalves.reuters.com@reuters.net))