Colruyt to sell part of stake in Virya Energy and entirety of Dreambaby (updated)
26/03/2024 09:21
(Adds cash inflow in paragraph 2, Virya context and quote in
paras 3-4, Dreambaby deal timetable in para 5)
March 26 (Reuters) - Belgian retailer Colruyt COLR.BR
said on Tuesday it would sell about 30% of its stake in energy
company Virya Energy to its majority shareholder Korys, and the
entirety of Dreambaby to Supra Bazar.
The Virya deal is based on an equity value of about 600
million euros ($650.64 million), Colruyt said in a statement,
adding it would book a cash inflow of about 180 million in its
2023/24 financial year.
The deal would also result in a one-off impact on its
net result, the company added.
Virya - founded by Colruyt and Korys in 2019 - is active
in developing, constructing and operating renewable energy
infrastructure with a focus on onshore wind.
"Virya Energy's ambition is to continue to invest in
other technologies beyond onshore wind energy, such as solar
energy and hydrogen, and to expand its reach into new operations
and new geographical areas," the Colruyt statement said.
Separately, Colruyt said it had reached an agreement with
Belgium's Supra Bazar to sell 100% of shares in baby items
company Dreambaby.
The transaction is intended to be finalised by the summer,
Colruyt said, adding it would not disclose financial details.
($1 = 0.9222 euros)
(Reporting by Olivier Sorgho, Editing by Louise Heavens)
((Olivier.Sorgho@thomsonreuters.com;))