The top shareholders of Greenalia launch a takeover bid that values ​​the company at 388 M

The top shareholders of Greenalia launch a takeover bid that values ​​the company at 388 M

The companies Smarttia and Alazady España, which control more than 86.4% of the share capital, will exclude the renewable energy company from BME Growth
The companies Smarttia and Alazady España, which control more than 86.4% of the share capital, will exclude the renewable energy company from BME Growth

Corporate movement in the renewable energy sector in BME Growth (former MAB). At the end of Monday, the top shareholders of Greenalia (the companies Smarttia and Alazady Spain) announced the launch of a takeover bid to promote the exclusion of the independent energy producer exclusively with renewable technologies from the alternative market. The company, chaired by José María Castellano (ex-CEO of Inditex ), uses only wind, sun and forest biomass, from fellings from certified plantations, to generate and store electricity.

The offer from Smarttia and Alazady Spain, who control more than 86.4% of the capital, is addressed to the rest of the holders of Greenalia shares. The price of the offer has been set at 17.50 euros per share of the company, only 8% above its closing price on Monday, and the acceptance period is expected to be 29 calendar days, without prejudice of the possibility of extensions.

Smarttia Spain (which has 81.21% of the capital is the company of its founder, Manuel García; while Alazady Spain (5.18%) is represented by Pablo Castellano, who has been president of the Nakadama family office since 2015, owned by José María Castellano Previously, he held the positions of president of Suburban Desing and director of Niki Bosch, as well as director of Riopele, all companies in the textile sector.

The launch of the takeover bid for Smarttia and Alazady Spain, with a price of 17.5 euros per share, values ​​the renewable company at almost 388 million euros . Therefore, it will mean the exit of BME Growth from one of its largest companies, since if we exclude the socimis, its market value was only surpassed by two companies: Proeduca Altus (owner of the International University of La Rioja (UNIR) and the EiDF solar energy.

Those interested in taking over the company have indicated in their information sent to BME Growth that the offer would not be subject to any conditions , without prejudice to the necessary approval by the general meeting of shareholders of the company of the exclusion from trading and of the formulation of the offer.

In view of the offer, Greenalia’s board of directors approved this Monday the call for its ordinary general meeting of shareholders with the aim of deliberating and, where appropriate, approving, among others, its annual accounts for the 2021 financial year and the management made by the administrative body.

In addition, the call will also serve to approve the delisting of all Greenalia shares from BME Growth, the approval of the stock option plan aimed at certain holders of labor or commercial relationships, the remuneration of the board for the year 2022 and the appointment of the accounts auditor.

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