REG - Aquila Eur Renwables Aquila Euro Rnw-AERI - Disposal of interest in Portuguese hydro asset

Aquila European RenewablesAnnouncement

Yesterday 08:45

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250501:nRSA0219Ha&default-theme=true

RNS Number : 0219H  Aquila European Renewables PLC  01 May 2025

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION.

For immediate release

Disposal of minority interest in Portuguese hydropower asset

1 May 2025

Aquila European Renewables plc ("AERI" or the "Company"), the London-listed
investment company advised by Aquila Capital Investmentgesellschaft mbH
("Aquila Capital"), announced on 24 October 2024 that, following the
resolution by Shareholders on 30 September 2024 that the Company pursue a
managed wind down process, it had appointed Rothschild & Co as financial
advisor to pursue a sale of the Company's portfolio.

The Board of AERI (the "Board") is pleased to announce that it has entered
into a sale and purchase agreement with the other shareholders in Sagres,
being funds managed and advised by Aquila Capital, for the sale of its 18%
interest in the Portuguese hydropower asset referred to as Sagres (the "Sagres
Disposal"). The Sagres Disposal is subject to the grant of customary
regulatory approvals, with completion expected to occur by June 2025.

The cash consideration for the Sagres Disposal is approximately EUR 16.5
million, representing the prevailing valuation reflected in the Company's net
asset value as at 31 December 2024 (the "Sagres Cash Consideration"). On this
basis, the Board believes that the price agreed, as well as the speed of
execution delivered, represents a successful outcome for AERI Shareholders.

The Board, together with its advisers, continues to work on the divestment of
the remainder of the Company's portfolio in accordance with the Company's
managed wind-down investment policy, with the aim to deliver the best end
result to AERI Shareholders. Whilst the Sagres Disposal is at a valuation in
line with the net asset value of the Company's interest in Sagres as at 31
December 2024, prevailing renewable market conditions remain uncertain and
dynamic and therefore there can be no guarantee that a similar outcome can be
achieved on the sale of the Company's remaining portfolio. The Board looks
forward to updating the market further in due course.

Enquiries:

 Deutsche Numis (Broker)  +44 (0) 20 7260 1000

 Hugh Jonathan

 George Shiel

 

Inside Information

The information contained within this announcement is deemed by Aquila
European Renewables plc to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No.596/2014 (as it forms part of UK domestic
law by virtue of the European Union (Withdrawal) Act 2018). On the
publication of this announcement via a Regulatory Information Service, such
information is now considered to be in the public domain.

The person responsible for making this announcement is Jennifer
Thompson of Apex Listed Companies Services (UK) Limited, the Company
Secretary.

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  DISGRGDUSXGDGUB