Korys participates in private placement of Voltalia for 15 million EUR
Renewable energy-based electricity producer Voltalia (Euronext Paris) has announced the launch of a capital increase with the cancellation of preferential subscription rights through a private placement with institutional investors for a maximum of €30 million. This transaction underlines the commitment of Voltalia’s management to accelerate the group’s development after a successful year in 2014 and is backed by Korys, which holds 1.43% of the company’s capital, and which has committed to subscribe to €15 million in new shares at a price of €8.60 per share (the same price as that applied on the company’s transfer to Euronext Paris in July 2014).
With this investment Korys further completes the strategic mix of its renewable energy portfolio, in particular in other geographies and specifically in promising emerging markets, as well as in other technologies, such as solar energy. The strong management team of Voltalia and the backing of a like-minded reference shareholder were other convincing arguments supporting the decision.
With the private placement, Voltalia aims to finance in 2015/2016 :
• the acceleration in the company’s development through the launch of Voltalia in three new geographic regions by end of 2015 (up to appr. €5 million) and the setting up of a specific site in Morocco from January 2015, and
• for the remaining, eventual strategic acquisitions to complete its portfolio of projects underway or accelerate the company’s expansion to new countries.
For the official press release, the terms and conditions, the legal framework and any other regulatory and additional information, we kindly refer you to www.voltalia.com.
About Voltalia (www.voltalia.com)
Renewable energy-based electricity producer Voltalia develops and operates electric power plants generating a total production capacity of 133 MW from 4 core energy sources: wind, solar, hydraulic and biomass. Present in Metropolitan France, Brazil, Greece and French Guiana, Voltalia draws upon the energy expertise of a global team of over 100 employees. Voltalia has been listed on regulated market Euronext Paris since July 2014 (FR0011995588 – VLTSA).
Korys is the investment holding of the Colruyt family. The family has been active in the retail sector for over 50 years and grew the Colruyt Group to become one of the most successful food retail and food services companies in Europe. Korys aims to create sustainable value through a diversified portfolio of investments and focuses on sectors in which it has built substantial expertise, such as Consumer and Retail, Renewable Energy and Life Sciences.