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    EQT   SE0012853455

EQT AB (PUBL)

(EQT)
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EQT Launches Takeover Bid for Spain's Solarpack

06/16/2021 | 03:19am EDT

By Dominic Chopping

STOCKHOLM--Swedish private-equity firm EQT AB said Wednesday that it has launched a 26.50 euro-a-share ($32.13) bid for Spanish solar company Solarpack Corp. Tecnologica SA.

The bid represents a 45% premium to Tuesday's closing price of EUR18.28 and values the developer and owner of solar photovoltaic plants at around EUR881 million, according to FactSet data.

EQT said it has signed irrevocable agreements with Solarpack shareholders Beraunberri SL, Landa LLC and Burgest 2007 SL to buy their combined stake of 50.96%.

The bid is being made by Veleta BidCo Sarl, a special purpose company indirectly wholly owned by the EQT Infrastructure V fund, and if the bid is successful, Beraunberri and Burgest 2007 will buy a 5.2% and 3.0% stake in Veleta BidCo respectively.

The offer is conditional upon reaching a minimum acceptance level of 75% plus one share, as well as receipt of Spanish antitrust authorities' approval.

Veleta BidCo intends to seek the delisting of the company's shares, subject to applicable regulatory approval and corporate consent and formalities.

Write to Dominic Chopping at dominic.chopping@wsj.com

(END) Dow Jones Newswires

06-16-21 0318ET

Stocks mentioned in the article
ChangeLast1st jan.
DJ INDUSTRIAL -0.42% 34935.47 Delayed Quote.14.63%
EQT AB (PUBL) 1.45% 421 Delayed Quote.97.24%
SOLARPACK CORPORACION TECNOLOGICA, S.A. 0.00% 26.15 Delayed Quote.-9.20%
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Financials
Sales 2021 1 386 M 1 645 M 1 645 M
Net income 2021 750 M 890 M 890 M
Net cash 2021 789 M 936 M 936 M
P/E ratio 2021 52,9x
Yield 2021 0,94%
Capitalization 40 099 M 47 610 M 47 573 M
EV / Sales 2021 28,4x
EV / Sales 2022 24,8x
Nbr of Employees 938
Free-Float 30,7%
Chart EQT AB (PUBL)
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EQT AB (publ) Technical Analysis Chart | EQT | SE0012853455 | MarketScreener
Technical analysis trends EQT AB (PUBL)
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TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 9
Last Close Price 40,64 €
Average target price 38,63 €
Spread / Average Target -4,95%
EPS Revisions
Managers and Directors
Christian Otto Sinding Chief Executive Officer & Managing Partner
Kim Henriksson Chief Financial Officer
Yngve Conni Jonsson Chairman
Caspar Mats Andreas Callerstr÷m Chief Operating Officer & Deputy CEO
Edith W. Cooper Independent Director
Sector and Competitors