Brief: Eolus: Acquisition Of YIT Energy With Project Portfolio Of 2.3 GW

Eolus AB (publ)

05/12/2023 14:25

Dec 5 (Reuters) - Eolus Vind AB (publ)  EOLUb.ST :
    * EOLUS STRENGTHENS THE POSITION IN FINLAND THROUGH
ACQUISITION OF
YIT ENERGY OY WITH A PROJECT PORTFOLIO OF 2.3 GW
    * SIGNED AN AGREEMENT TO ACQUIRE YIT ENERGY OY, RENEWABLE
ENERGY
DIVISION OF FINLAND'S LARGEST DEVELOPMENT AND CONSTRUCTION
COMPANY YIT
    * WILL ACQUIRE 100% OF SHARES IN YIT ENERGY OY, A WHOLLY
OWNED
SUBSIDIARY OF YIT, FOR A FIXED PURCHASE PRICE OF EUR 25 MILLION
    * EUR 10 MILLION WILL BE PAID AT CLOSING AND REMAINING
AMOUNT WILL
BE PAID IN INSTALMENTS DURING 2024-2025
    * TRANSACTION ALSO INCLUDES A VARIABLE PURCHASE PRICE, WHICH
WILL
BE DEFINED BASED ON PROJECT SALES AND COMPLETED PROJECTS UP
UNTIL END OF 2032
    * CLOSING IS EXPECTED TO TAKE PLACE DURING DECEMBER 2023.

Source text for Eikon:  ID:nMFN65gj9C 
Further company coverage:  EOLUb.ST 

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