The board of directors of Edison has approved the launch of a voluntary public purchase offer of a totalitarian on 43.579.004 ordinary shares of Alerion Clean Power, equal to 100% of the share capital, at a price of 2.46 euros a share. The operation is part of the strategy of the company to grow in the renewable energy with the goal of becoming the first operator of the wind energy sector in Italy. According to milanofinanza.en, it is the first of a series of operations of Edison to grow in renewables in Italy, through the internal lines but also with a targeted series of acquisitions.
The price incorporates a premium of 20.6% compared to the closing price of yesterday and of 29.5% compared to the amount of the offer of the Fri-El Green Power, which is partial, and covers 29.9% of the share capital of Alerion . This morning the title Alerion has opened above the price of the takeover bid, exchange, in fact, to 2.48 euros. (has touched 2.5) at 9:18, with a rise of 22%. The title Edison saving (the only shares still listed at Piazza Affari) rise of 2.58% to 0,715 euros.
In the case of full adoption, the maximum total of euro 107 million. The offer, the acceptance period will be agreed with Borsa Italiana, aimed at delisting of the shares of Alerion .
With the acquisition of the latter, which has a fleet of 10 wind farms in Italy with an installed capacity of 259 MW (to which you add a plant by 6 MW in Bulgaria), will be the second largest wind farm in Italy that will contribute to the growth and consolidation of the main operators of this sector.
The first Italian manufacturer of wind energy is today the Erg Reniew with 1,13 gigawatts of capacity, according to Enel Green Power with 0,72 gigawatt. If the bid is successful, Edison + Alerion will have to 0.84 gigawatts.
The Edison group has provided in the industrial plan to reach 40% of the park production of energy from renewable sources (wind and hydroelectric) in the medium term, compared with 25%-30% at present.
The offer is being promoted by the Eolo Energia Srl, the company that is 51% controlled by Edison Investments in Renewable Energy (shareholders: Edison and Edf Energies Nouvelles) and 49% by E2i Energie Speciali (30% Edison Investments in Renewable Energy, 70% F2i).
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