EQT Makes Voluntary Takeover bid for Spanish Solar Designer Solarpack

• A global investment company, EQT Infrastructure has actually announced a voluntary takeover bid for one hundred percent of the share funding of Solarpack Corporación Tecnológica, S.A, a Getxo-based developer and proprietor of solar PV plants, mainly energetic in Spain, Chile, and India.

Before the statement, EQT Infrastructure has signed long-term arrangements with the Vendor Shareholders (Beraunberri, S.L., Landa LLC and also Burgest 2007, S.L.) to market their full risk of 50.957 percent in the context of the takeover bid.

The consideration supplied by the Bidder to all the shareholders of the Company is EUR 26.50 in cash per share, which stands for a premium of about:

• 45.0 percent over the closing rate of the shares of the Company on 15 June 2021 (EUR 18.28).
• 35.1 percent over the volume-weighted average price of the shares of the Company during the three months ending on 15 June 2021 (EUR 19.62).
• 16.6 percent over the volume-weighted typical cost of the shares of the Company during the 6 months ending on 15 June 2021 (EUR 22.73).

This offer will be conditional upon reaching a minimum acceptance degree of 75 percent plus one share (including the shares possessed by the Vendor Shareholders), along with invoice of Spanish antitrust authorities' approval. The Bidder intends to seek the delisting of the Company's shares, subject to relevant regulatory approval and also company authorizations and also formalities.

Solarpack is a geographically diversified solar PV developer as well as independent power manufacturer. Solarpack has developed about 1.3 GWs across eight countries, generally in Spain, Chile, and India, out of which 450 MWs are possessed and run by the Company. Headquartered in Getxo, Spain, Solarpack utilizes greater than 260 people as well as has been listed on the Spanish Stock Exchange because 2018.

Beraunberri, S.L. as well as Burgest 2007, S.L. have actually assumed a dedication under which they will certainly purchase the Bidder if the takeover bid is successfully cleared up. If the takeover bid is approved by all the shareholders of Solarpack to which it is dealt with, Beraunberri, S.L. and also Burgest 2007, S.L. would hold, specifically, 5.2 percent as well as 3.0 percent of the share resources of the Bidder after settlement of the takeover bid as well as the payment of the amounts dedicated.