Falck Renewables, after the announcement of the sale of the majority to the Iif fund, the stock flies to the stock market
Stock market up in the early stages of the session, with the altitude that after a reflexive start has suddenly turned upwards. The index Ftse Eb marks + 0.46% at 26.453 points. More detached from the other European exchanges. The protagonists in this phase are the energy titles, with Is in the which rises by 1.5%, Hera + 0.8%, Italgas + 0.8%, A2A + 0.8%. Up also Snam, Terna, Eni. Some good moves in asset management (Azimuth + 2.9%), among banks well Understanding And Bpm. Down Moncler (-0.5%) e Recordati (-0.5%). Particularly, Falck Renewables marks + 14.1%, after that Iif announced the acquisition of 60% from Falck. The listing is close to the transaction price (€ 8.81 per share), at which the future takeover bid will be launched.
Infrastructure Investments Fund, investment vehicle of which JP Morgan Investment Management he is advisor, he has put 60% of Falck Renewables. Iif will consequently launch amandatory takeover bid, which will be launched after the closing, expected by the first quarter of 2022. Iif, informs a note, intends to cancel the listing of Falck Renewables from the stock exchange list.
Iif is a long-term investor in infrastructure and related assets, with a particular interest in the energy field. The investment of a new strategic partner, it is stated, allows a Falck Renewables to make the most of the investment opportunities that are being created in the sector of renewable energies and to act as a key player in the current market context.
The price per share will not be subject to further changes deriving from the possible conversion of the convertible bonds of Falck Renewables. The agreement provides for specific contractual mechanisms for the reduction of the consideration, which will operate only if there should be distributions to the shareholders of Falck Renewables before closing. A ‘Takeover bid on convertible bonds.
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