Audax Energia launches takeover bid for Spanish wind co Fersa
The Hinojal wind farm. Source: Fersa Energias Renovables SA.
Spanish energy trader Audax Energy SA has made a takeover bid for Fersa Energias Renovables SA (BME:FRS) that values the wind power company’s entire share capital at about EUR 70 million (USD 78.5m).
According to a Thursday filing with stock market regulator CNMV, Audax is offering EUR 0.50 in cash for every Fersa share. It does not plan to delist the company from the bourse.
For the bid to be successful, Audax needs to secure a stake of at least 50.01%. It has already agreed to acquire the shares of investors with a combined interest of about 45.17%, among which is Grupo Empresarial Enhol SL, which owns 22.08% in Fersa.
Fersa’s portfolio comprises assets with a combined capacity of 457.7 MW, including 185.2 MW in operation. They are located in Spain, France, Poland and Panama, according to information on the company’s website.