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    EQT   SE0012853455


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EQT Launches Takeover Bid for Spain's Solarpack

06/16/2021 | 03:19am EST

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 -2.53% 34899.34 Delayed Quote.14.03%
EQT AB (PUBL) -0.67% 507.8 Delayed Quote.141.35%
SOLARPACK CORPORACION TECNOLOGICA, S.A. 1.14% 26.65 Delayed Quote.-7.47%
All news about EQT AB (PUBL)
11/25EQT Unit Closes On Acquisition Of Solarpack
11/25EQT Infrastructure successfully completes the voluntary tender offer for Solarpack
11/24EQT, Hellman & Friedman Open Delisting Tender Offer for zooplus
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11/24Telenor Sells Swedish Communications Operator, Fiber Assets To GlobalConnect For $331 M..
11/23French Solar Firm Photosol Attracts Bids from Engie, EQT
11/23Sweden's Karo Pharma to buy Sylphar in $326 million deal
11/19BioNTech Investors, EQT Mulling Joint Bid for Novartis's Sandoz
11/19EQT Sells G+E GETEC Holding to J.P.Morgan Fund
11/19EQT, GETEC Energie to Divest Energy Service Firm to JP Morgan-Advised Investment Vehicl..
More news
Analyst Recommendations on EQT AB (PUBL)
More recommendations
Sales 2021 1 426 M 1 614 M 1 614 M
Net income 2021 786 M 890 M 890 M
Net cash 2021 607 M 686 M 686 M
P/E ratio 2021 62,8x
Yield 2021 0,76%
Capitalization 48 358 M 55 014 M 54 731 M
EV / Sales 2021 33,5x
EV / Sales 2022 28,2x
Nbr of Employees 938
Free-Float 33,7%
Duration : Period :
EQT AB (publ) Technical Analysis Chart | EQT | SE0012853455 | MarketScreener
Technical analysis trends EQT AB (PUBL)
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus HOLD
Number of Analysts 10
Last Close Price 49,01 €
Average target price 42,15 €
Spread / Average Target -14,0%
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