FNM, signed contract to acquire 80% in Viridis Energia

(Alliance News) - FNM Spa announced that it has signed a purchase and sale agreement for the acquisition of 80% of the share capital of Viridis Energia Spa, an independent power producer, from Lagi Energia 2006 Srl and HNF Spa, in execution of the binding offer signed on January 16.

With the acquisition, the FNM group enters the renewable energy generation sector and strengthens the environmental objectives of the strategic plan to 2025, which includes investments in innovative energy projects, further contributing to the goals of Agenda 2030 as well as to the country's energy transition, the company explained in a note.

On a like-for-like enterprise value basis, the consideration for the acquisition of the stake in Viridis increased to EUR80.0 million from the previously disclosed EUUR59.2 million.

"The increase is mainly determined by the shareholder loan and capital contribution made by Lagi Energia 2006 and HNF prior to the closing, to support the development of future investments, which will be 80% acquired by FNM," the company's note reads.

FNM recalls that the price includes a portion as an advance on the agreed Earn Out for the development of a portfolio of plants to be built within 6 years after the closing.

On Monday, FNM closed in the green by 1.1 percent at EUR0.44 per share.

By Claudia Cavaliere, Alliance News reporter

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