Brief: FDE Completes Acquisition Of Majority Stake in Greenstat

La Francaise de l Energie SA

01/03/2024 10:06

March 1 (Reuters) - La Française de l'énergie  FDEL.PA :
    * COMPLETION OF ACQUISITION OF MAJORITY STAKE IN GREENSTAT
ASA, IN
NORWAY
    * TRANSACTION CONSIDERATION AMOUNTS TO C. EUR 15.5 MLN,
CONSISTING
MAINLY OF A EUR 13 MILLION CAPITAL INCREASE TO FINANCE PIPELINE
OF PROJECTS
    * PROVIDES FDE WITH CONTROLLING STAKE IN GREENSTAT OF 56.35%
OF
ITS SHARE CAPITAL AND VOTING RIGHTS
    * TRANSACTION HAS BEEN ENTIRELY PAID WITH EXISTING CASH,
ALLOWING
FDE TO MAINTAIN STRONG FUNDING CAPACITY
    * NEXT MONTHS WILL BE USED TO RESTRUCTURE COMPANY BY
REORGANIZING
TEAM TO DELIVER FUTURE PROJECTS, WHILE SIGNIFICANTLY REDUCING
SG&A COSTS
    * ACQUISITION FULLY ALIGNED WITH FDE'S AIM OF DRIVING
SUSTAINABLE
AND STRONGER GROWTH, AND UNDERPINS GROUP'S MID-TERM STRATEGIC
OBJECTIVES

        
 Source text for Eikon:  urn:newsml:reuters.com:*:nBwfttCCa
 Further company coverage:  FDEL.PA  

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