Brief: Orron Energy, Cloudberry To Combine To Create Independent Power Producer

Cloudberry Clean Energy ASA

26/06/2026 07:09

June 26 (Reuters) - Orron Energy AB ORRON.ST:
SAID ON THURSDAY IT ENTERED INTO DEAL WITH CLOUDBERRY CLEAN ENERGY TO CREATE NORDIC INDEPENDENT POWER PRODUCER
TO COMBINE CO'S NORDIC RENEWABLE ENERGY PLATFORM AND ORGANISATION, EXCLUDING THE KARSKRUV WINDFARM, WITH CLOUDBERRY
ORRÖN ENERGY TO RECEIVE 27.01% OF SHARES IN ENLARGED CLOUDBERRY, BECOMING ITS LARGEST SHAREHOLDER
LOAN BALANCES, ACCRUED INTEREST OF ABOUT €93 MLN TO BE SETTLED OR ASSUMED BY CLOUDBERRY
ORRÖN ENERGY TO RECEIVE €4.2 MLN IN CASH
WILL TAKE ACTIVE ROLE IN CLOUDBERRY’S FUTURE GROWTH THROUGH BOARD REPRESENTATION
WILL CONTINUE TO OWN THE KARSKRUV WINDFARM AND LARGE-SCALE EUROPEAN DEVELOPMENT BUSINESS
EXPECTS TO HAVE CLOSE TO ZERO NET DEBT AT CLOSING, WITH COMMITTED €50 MLN DEBT FACILITY IN PLACE
BOARD OF DIRECTORS, GROUP MANAGEMENT REMAIN UNCHANGED
AROUND 30 EMPLOYEES WILL REMAIN EMPLOYED BY ORRÖN ENERGY FOLLOWING CLOSING OF TRANSACTION
SEES FY OPERATING EXPENSES AT €4-5 MLN (PVS VIEW: €19 MLN)
SEES FY G&A EXPENSES AT €4-5 MLN (PVS VIEW: €8 MLN)
SEES FY SUDAN LEGAL COSTS AT €4.5 MLN (PVS VIEW: €4 MLN)
SEES FY CAPEX AT €8 MLN (PVS VIEW: €11 MLN)
PURCHASE PRICE IN ENTERPRISE VALUE OF TARGET COMPANIES OF €234.6 MLN ON A CASH AND DEBT FREE BASIS

        
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