REG - Aquila Eur Renwables Aquila Euro Rnw-AERI - Update on Sales Process

Aquila European RenewablesAnnouncement

Mon 07:00

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RNS Number : 6578S  Aquila European Renewables PLC  28 July 2025

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION.

Update on Sales Process

28 July 2025

Aquila European Renewables plc ("AERI" or the "Company"), the London-listed
investment company advised by Aquila Capital Investmentgesellschaft mbH,
announced on 19 June 2025 that the Company had completed the Sagres Disposal
and provided an update on the three separate sales processes that were being
progressed, including with the preferred bidder.

After comprehensive and positive due diligence by, and extensive negotiations
with, the preferred bidder resulting in a broadly agreed form share purchase
agreement, a revised offer from the preferred bidder has been received. This
revised offer has seen the preferred bidder reduce the number of assets they
can currently acquire, with their current available funds. The indicated
acquisition price has also been further reduced. The revised offer would mean
a less material proportion of the portfolio would be sold and is expected to
lead to a situation which is potentially prejudicial to the marketability of
the balance of the portfolio.

Accordingly, the Board has decided to pause the sales process with the
preferred bidder, who is no longer in exclusivity but with whom dialogue
remains open, and explore the implications of the above and the alternatives
available to AERI.

The revised offer and changes to the transaction perimeter by the preferred
bidder were unfortunately received late in the process and had this not
occurred the Board would have been minded to proceed on the previously
proposed terms.

The Board will provide an update to shareholders on the sales process once the
implications and alternatives have been properly explored.

The Company's Q2 NAV [reflecting the latest power price curves] will be
published as expected in early August 2025.

Ian Nolan, Chairman of the Company said:

"The Board is disappointed with this update to shareholders and together with
our advisers, recognise the current challenging sales market environment with
relatively low levels of liquidity and pressure on forecast power prices. The
Board retains its current view on the resilience of the portfolio and its
operational performance, as evidenced by the positive due diligence process
undertaken to date. Our objective remains to seek a realisation of the
portfolio, and we continue to work very hard to deliver on this objective for
shareholders."

 

   Enquiries:

 Deutsche Numis (Corporate 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.

 

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