The board of Opdenergy favorably assesses Antin's takeover bid and will accept it for treasury shares

MADRID, 1 Mar.

The board of Opdenergy favorably assesses Antin's takeover bid and will accept it for treasury shares


The board of directors of Opdenergy has issued, "unanimously", a favorable opinion to the voluntary public acquisition offer (OPA) launched for 100% of the company by GCE Bidco, an investment vehicle of the Antin group, at a rate of 5, 85 euros per share.

In a report sent by the company to the National Securities Market Commission (CNMV), the board of directors of Opdenergy also states "its unanimous decision" to accept the offer with regard to the 180,122 shares that are held in treasury stock. and which represent 0.122% of its share capital.

"The board of directors unanimously issues a favorable opinion of the offer. In any case, it is exclusively up to each Opdenergy shareholder to decide whether or not to accept the offer taking into account, among others, their particular circumstances and interests," says the company in its opinion on the takeover bid.

The deadline for accepting the offer to acquire 100% of the capital of Opendenergy for an amount of approximately 866 million euros began on February 22 and will extend until March 15, 2024, both included.

After receiving the approval of the CNMV, the operation has entered its final stretch after the Antin fund freely renounced arbitrations against Spain to unblock its offer on Opdenergy, which led to the Government's approval of the takeover bid.

Specifically, the offer is aimed at 100% of the share capital of Opdenergy Holding, made up of 148,033,474 shares, admitted to trading on the Madrid, Barcelona, ​​Bilbao and Valencia Stock Exchanges and integrated into the Stock Exchange Interconnection System.

The friendly offer has a prior agreement with the founding shareholders of Opdenergy -Gustavo Carrero, Javier Chaves and Javier Remacha and its current CEO, Luis Cid-, who jointly own close to 71.18% of the company and have signed commitments irrevocable to sell all its shares to the offeror.

In addition, Indumenta Pueri, the family holding company of the Domínguez de la Maza, owners of the Mayoral children's clothing brand, will also sell its 6% stake in the takeover bid.

Once the takeover bid is settled, GCE BidCo plans to delist Opdenergy from trading. If the acceptances of the takeover bid reach the threshold required for this - approximately 92% of the share capital - the offeror will require the rest of the shareholders to squeeze out to reach 100% of the share capital of Opdenergy.

In the event that the acceptances of the takeover bid are greater than 75% but without reaching the threshold required for the forced sale procedure, the fund will promote the exclusion from negotiation by taking advantage of the exception of public offer of exclusion from negotiation provided for in the articles 65.2 of the Securities Market Law and 11.d) of Royal Decree 1066/2007.

The investment firm Antin, which has more than €30 billion in assets under management through its various investment strategies, intends to maintain Opdenergy's headquarters in Spain and intends to maintain close collaboration with the strong team. current management to take advantage of opportunities that may arise in the future.

If the operation goes ahead, Antin will acquire a vertically integrated independent developer and producer of renewable energy that has 1,064 megawatts (MW) in operation, 791 MW in construction and 574 MW in pre-construction and demonstrated capacity for the development of projects. of renewable energies, mainly in Spain, the United States, Chile, Italy and Mexico.