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    SPK   ES0105385001

SOLARPACK CORPORACION TECNOLOGICA, S.A.

(SPK)
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EQT Infrastructure V fund managed by EQT Partners AB made an offer to acquire Solarpack Corporacion Tecnologica, S.A. from Beraunberri, S.L., Burgest 2007 Sl, Landa LLC and others for approximately €880 million.

06/16/2021 EDT

EQT Infrastructure V fund managed by EQT Partners AB made an offer to acquire Solarpack Corporacion Tecnologica, S.A. (BME:SPK) from Beraunberri, S.L., Burgest 2007 Sl, Landa LLC and others for approximately €880 million on June 15, 2021. Under the terms, EQT made this offer for 33.3 million shares of Solarpack at €26.5 per share. The transaction will be funded via necessary cash resources and bank. In case of termination, the non-breaching party shall be entitled to obtain from the breaching party a penalty for an aggregate amount of €5 million. The offer will be conditional upon reaching a minimum acceptance level of 75% plus one share, as well as receipt of Spanish antitrust authorities’ approval. EQT Infrastructure V intends to seek the delisting of the Solarpack's shares, subject to applicable regulatory approval and corporate consents and formalities. As of The transaction requires that the offer should be accepted by the security holders, who must represent at least 75% plus one share of Solarpack's capital stock, with voting rights. As on July 7, 2021, The National Securities Market Commission (CNMV) approved the transaction. As of July 27, 2021, Solarpack's board of directors has approved the constitution of the monitoring committee for the public offer for the acquisition of shares (OPA) formulated by Veleta BidCo, an investment vehicle of the EQT group. Beraunberri, Burgest 2007 and Landa LLC have irrevocably committed to accept the offer in relation to a total of 16.9 million shares, together representing approximately 50.9 % of Solarpack's capital. Javier Amantegui, Samir Azzouzi, Jaime Almenar, Carme Briera Dalmau, María Begoña Barrantes Díaz of Clifford Chance S.L.P. acted as legal advisor to EQT Infrastructure V. Credit Suisse Group AG (SWX:CSGN) acted as financial advisor to EQT Infrastructure V. Juan Aguayo of Cuatrecasas acted as a legal advisor to Beraunberri. JP Morgan AG acting as financial advisor and Uría Menéndez Abogados as legal advisor to Solarpack Corporacion Tecnologica, S.A. for the transaction.


© S&P Capital IQ 2021
Stocks mentioned in the article
ChangeLast1st jan.
CREDIT SUISSE GROUP AG 0.92% 9.194 Delayed Quote.-19.35%
SOLARPACK CORPORACION TECNOLOGICA, S.A. 0.00% 26.2 Delayed Quote.-9.03%
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Financials
Sales 2020 165 M 193 M 193 M
Net income 2020 14,3 M 16,8 M 16,8 M
Net Debt 2020 350 M 410 M 410 M
P/E ratio 2020 60,1x
Yield 2020 -
Capitalization 871 M 1 020 M 1 021 M
EV / Sales 2020 7,40x
EV / Sales 2021 10,1x
Nbr of Employees 266
Free-Float 43,9%
Chart SOLARPACK CORPORACION TECNOLOGICA, S.A.
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Solarpack Corporacion Tecnologica, S.A. Technical Analysis Chart | SPK | ES0105385001 | MarketScreener
Technical analysis trends SOLARPACK CORPORACION TECNOLOGICA, S.A.
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Income Statement Evolution
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Mean consensus BUY
Number of Analysts 4
Last Close Price 26,20 €
Average target price 29,00 €
Spread / Average Target 10,7%
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Managers and Directors
Pablo Burgos Galindez Chief Executive Officer & Executive Director
Jaime Gonzalez de Durana Head-Finance
Ignacio Artázcoz Barrena Executive Chairman
Maria Fátima Fernández Estepa Technical Director
Luján de La Rica Olaso Head-Administration & Control
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