Orron Energy's offer to buy Slitevind confirms 'aggressive' expansion plan - Pareto

Orron Energy AB

01/08/2022 13:27

(Adds analyst comments, background)
    ** Shares in Orron Energy  ORRON.ST  are up 9% after the
renewable energy company made a SEK 125/shr offer to buy onshore
wind farms operator Slitevind  SLITE.ST   urn:newsml:reuters.com:*:nFWN2ZB01F
    ** Slitevind's stock jumps 20% to a record high - in line
with the premium of 20.8% to Friday's close
    ** Pareto Securities says the news confirms its view that
Orron Energy will be aggressive in its expansion and acquisition
strategy
    ** "We believe this is positive for Orrön as it is in line
with the company’s strategy of acquiring small and midsize wind
farms for the purpose of developing them into higher
efficiencies and improved cash flows," Pareto says
    ** Nearly 50% of Slitevind's shareholders have undertaken to
accept the offer
    ** Orron Energy, formerly Lundin Energy, has said it aims to
become a renewable leader through mergers and acquisitions after
divesting its oil and gas business to AkerBP  AKER.OL 
 urn:newsml:reuters.com:*:nL5N2VA1VQ

 (Reporting by Marie Mannes)
 ((Marie.mannes@thomsonreuters.com))