Fersa confirms process to seek investors; no firm deals to date
Fersa, the listed Spanish renewable-energy company, made the following announcement further to press reports over the weekend about a possible sale of the company.
The Board of Directors of the Company granted, at the time, a mandate to Lazard in relation to the reconfiguration of its shareholding structure, in order to seek and select potential investors interested in taking part in this process.
To date, the company has selected a small number of groups interested in taking part in the process. Fersa has received only and the board of directors has not ruled on the offers received.
The process continues and, if relevant developments occurred, Fersa will inform the markets.
In relation to press reports, Fersa states that the company has not reached any agreements about a public offering of acquisition of shares.
It was reported over the weekend that Fersa had attracted final offers from the fund Springwater, the Spanish electricity trader Audax and the PE firm Oaktree. The report said that the Swiss-based Springwater is bidding in alliance with Texas Pacific Group (TPG) and that other potential suitors include Abac, Cerberus and First Reserve.
Fersa has a market capitalisation of EUR 55.3m