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    FKR   IT0003198790

FALCK RENEWABLES S.P.A.

(FKR)
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Falck Renewables Shares Soar as JPMorgan-Backed Investor to Buy Company

10/20/2021 | 03:46am EST

By Mauro Orru

Shares in Italy's Falck Renewables SpA jumped Wednesday after an investor backed by JPMorgan Chase & Co. agreed to buy a controlling stake that will trigger a takeover bid valuing the company at roughly 2.57 billion euros ($2.99 billion).

At 0915 GMT, Falck Renewables trades 14% higher at EUR8.71.

The company, which develops and manages power production plants from renewable sources, said Infrastructure Investments Fund--a vehicle advised by J.P. Morgan Investment Management--agreed to buy a roughly 60% stake held by Falck SpA at EUR8.81 per share.

The deal would bolster the fund's reach in the renewable energy sector since Falck Renewables has exposure to the United Kingdom, Italy, the United States, Spain, France, Norway and Sweden.

The fund invests in infrastructure, with a focus on contracted energy assets and utilities.

Falck Renewables said the stake transaction should wrap up in the first quarter next year, after which the fund will launch a mandatory cash offer to buy out Falck Renewables at the same price per share offered for the 60% stake.

The fund will then delist Falck Renewables.

Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94

(END) Dow Jones Newswires

10-20-21 0546ET

Stocks mentioned in the article
ChangeLast1st jan.
FALCK RENEWABLES S.P.A. 0.06% 8.66 Delayed Quote.31.34%
JPMORGAN CHASE & CO. -1.49% 158.83 Delayed Quote.27.43%
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11/13FALCK RENEWABLES S P A : Call notice of the Shareholders' Meeting
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11/13FALCK RENEWABLES S P A : Proxy/sub-proxy form to the appointed representative
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11/11Press release - Interim financial report at September 30, 2021
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More news
Financials
Sales 2021 421 M 476 M 476 M
Net income 2021 28,0 M 31,7 M 31,7 M
Net Debt 2021 840 M 950 M 950 M
P/E ratio 2021 91,6x
Yield 2021 0,80%
Capitalization 2 505 M 2 823 M 2 834 M
EV / Sales 2021 7,94x
EV / Sales 2022 7,22x
Nbr of Employees -
Free-Float 39,2%
Chart FALCK RENEWABLES S.P.A.
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Falck Renewables S.p.A. Technical Analysis Chart | FKR | IT0003198790 | MarketScreener
Technical analysis trends FALCK RENEWABLES S.P.A.
Short TermMid-TermLong Term
TrendsBearishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 2
Last Close Price 8,66 €
Average target price 8,81 €
Spread / Average Target 1,73%
EPS Revisions
Managers and Directors
Toni Volpe Chief Executive Officer & Director
Paolo Rundeddu Group CFO & Head-Management Services
Enrico Falck Chairman
Michela Bambara Chief Digital & Information Officer
Vittorio Grande Head-Operations