- Press Releases
December 3 (Renewables Now) - Shares in Spanish solar energy developer Solarpack Corporacion Tecnologica SA (BME:SPK) will be suspended from trading in Spain as of next Friday at the request of the company's soon-to-be new owner, Spain’s stock market regulator CNMV said on Thursday.
Veleta BidCo Sarl, a special purpose vehicle affiliated with Swedish investment firm EQT AB (STO:EQT), asked for the suspension ahead of final delisting to execute and settle the squeeze-out of minority shareholders after its voluntary takeover bid for Solarpack’s stock exceeded the minimum acceptance level of 75% plus one share.
The suspension will come into force upon the market close on December 9 and remain effective until Solarpack is delisted, CNMV said.
The vehicle was recently able to attain 96.04% of Solarpack’s shares for EUR 26.50 (USD 29.91) in cash. The offer for the squeeze-out was yet to be formulated, EQT said last week.
The Swedish fund expects the settle the offer with the remaining shareholders and delist Solarpack by the end of December.
(EUR 1.0 = USD 1.129)