(Finance) – As reported in the press release of 1 August 2024, Iren has anfour -year call option, exercisable starting from 31 March 2025, to acquire the entire participation fee held by Midco 2024 srl in Egea Holding Spa and currently equal to 47.23%. Today, the Board of Directors of Iren has deliberated that this option is exercised on March 31, 2025.
The consideration offered by Iren for the exercise of the call optiondetermined on the basis of the provisions of the existing contractual agreements, is equal to 74.8 million euros. This price is subject to the mechanisms of determination and verification provided for in the agreements between
The parts.
“With the purchase of the remaining capital of Egea Holding we acquire 100% of the company and the first phase of relaunch of the new Egea ends: we successfully renovated a group that up to a year and a half ago was in great financial difficulties and we are
relaunching with a solid industrial development plan. We have made the idea of an industrial project prevail, thanks also to the collaboration of Stakeholder, institutions and territory and thanks to the essential support of Egea’s workers and workers: the results are giving us reason. The exercise of the call option will allow us to work on growth, aiming for synergies deriving from entry into a large group like our “declares Luca Dal Fabbro, executive president of Iren.
“Since August 2024, we have worked incessantly on Egea in a single team of people, restructuring the business processes by evolving them to those of the Iren group, enhancing the assets and skills. With the exercise of the call, we enter even more in the heart of this process, creating further value not only for Iren, but also for the historical territory in which the Egea work will not Value that we intend to preserve, testimony of a bond that continues to embody proximity to the citizens and institutions of these territories.
This operation “says Gianluca Bufo, CEO and General Manager of Iren.