Brief: Transition, Arverne Group Sign Combination Agreement To Publicly List On Euronext Paris

Arverne SA

16/06/2023 08:05

June 16 (Reuters) - Transition SA  TRAN_p.PA :
    * TRANSITION AND ARVERNE GROUP SIGN COMBINATION AGREEMENT TO
PUBLICLY LIST ON EURONEXT PARIS’ PROFESSIONAL SEGMENT THE FUTURE
FRENCH LEADER IN GEOTHERMAL AND LOW-CARBON LITHIUM
    * COMBINED INITIAL GOAL OF ACHIEVING REVENUES OF BETWEEN
€200
MILLION AND €350 MILLION BY 2027, AND BETWEEN €800 MILLION AND
€1.15 TRILLION BY 2030
    * COMBINED ENTITY PLANS TO OPERATE GEOTHERMAL HEAT
PRODUCTION
FACILITIES ABLE TO GENERATE 4.8 TWH PER YEAR BY 2030, ALONG WITH
AN ANNUAL 30 KT OF LOW-CARBON LITHIUM EXTRACTION AND REFINING
    * GROUP HAS ALREADY SECURED OR FILED APPLICATIONS FOR
RELEVANT
PERMITS
    * INITIAL BUSINESS COMBINATION WILL BE BASED ON A FULLY
DILUTED
PRE-MONEY VALUATION OF ARVERNE GROUP SHARES OF €166 MILLION
    * INITIAL BUSINESS COMBINATION WILL BE BASED ON VALUE OF
TRANSITION SHARES (ISSUED OR TO BE ISSUED) OF AROUND €148
MILLION, CORRESPONDING TO PRO FORMA EV OF AROUND €257 MILLION
    * TOTAL AMOUNT OF FUNDING SECURED TO DATE STANDS AT €130
MILLION,
ENABLING THE COMPANY TO PURSUE ITS GROWTH STRATEGY THROUGH 2025
    * TRANSITION AND ARVERNE GROUP HAVE ALSO RECEIVED
INDICATIONS OF
INTEREST FROM STRATEGIC EUROPEAN INVESTORS
    * THESE ADDITIONAL INVESTMENTS COULD BRING THE TOTAL AMOUNT
OF
FINANCING UP TO €200 MILLION
    * TRANSITION WILL CHANGE ITS NAME TO "ARVERNE GROUP" ON
COMPLETION
OF THE MERGER

Further company coverage:  TRAN_p.PA 

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