From News Desk
TotalEnergies announces the signing of an agreement with Energetický a průmyslový holding, (EPH) for the acquisition of 50% of its flexible power generation platform (gas-fired and biomass power plants, batteries) in Western Europe (Italy, United Kingdom and Ireland, Netherlands, France), valued at €10.6 billion (enterprise value), i.e. a multiple of 7.6x 2026 EBITDA.
Under the agreement, EPH will receive the equivalent of €5.1 billion in TotalEnergies shares. 95.4 million TotalEnergies shares will be issued, based on a price equal to the volume-weighted average share price of the twenty trading sessions preceding November 16th (signing date), i.e. €53.94 per share, representing about 4.1% of TotalEnergies’ share capital and making EPH one of the Company’s largest shareholders upon completion of the transaction.
The transaction will result in the creation of a joint venture owned 50/50 by TotalEnergies and EPH, which will be responsible for the industrial management of the assets and the business development, while each company will market its share of production under a tolling arrangement with the joint venture.
“We are convinced that this partnership will create lasting value for our shareholders and are also pleased to welcome a new long-term European shareholder who is fully committed to TotalEnergies’ transition strategy,” said Patrick Pouyanné, Chairman and CEO, TotalEnergies.
Daniel Kretinsky, Chairman of the Board of EPH added, “This transaction is founded on our strong appreciation of TotalEnergies, its management team led by Patrick Pouyanné and its strategy. For all these reasons, we are both highly interested in becoming a long-term anchor shareholder of TotalEnergies and excited to create a joint venture which is already today a leading player in European flexible power generation, best positioned to further strengthen its role. TotalEnergies is one of the largest European companies across all industries and also has a strong global presence. Through the shareholding in TotalEnergies, we are implementing our strategic ambition to diversify our geographic exposure, currently concentrated in the EU and UK.”
Disclaimer – The details expressed in this post are from the companies responsible for sending this post for publication. This website doesn’t endorse the details published here. Readers are urged to use their own discretion while making a decision about purchasing or using a product/service related to this company, or using this information in any way. There has been no monetary benefit to the Publisher/Editor/Website Owner for publishing this post and the Website Owner takes no responsibility for the impacts of purchasing or using these products/services on the reader, or using this information in any way.
Global Perspectives... 