GreenVolt in Tilbury Green Power offer

GreenVolt, a renewables energy company led by ex-EDP Renovavéis boss Manso Neto, has shown interest in buying Tilbury Green Power, a biomass renewable energy production centre in Tilbury (Essex), England.

The company has also revealed that an offer has been presented together with an “English institutional investor.”
In a communiqué sent to the CMVM, GreenVolt says that the power facility in question is “fully up and running” and “the proposal presented was considered preferential, therefore leading to the start of a negotiation process with a view to making the acquisition referred to.”
GreenVolt, which is a subsidiary of Altri, also states that the acquisition of Tilbury Green Power will be subject to “the checking of a number of preconditions which are usual in operations of this nature” so that it is “not yet certain if the negotiations of this operation will be successfully completed”.
The company, led by Manso Neto, says that this “possible acquisition” is “another step” in the company’s internationalisation in the renewables energy market, “increasingly underpinning its strategy for the growth and expansion of its business in the renewable energies sector within the European context”.
At the start of the month, GreenVolt announced that it had signed with Altri a “memorandum of understanding of a non-binding nature” with V-R Europe. With the operation in question, GreenVolt will “hold the entire share capital and voting rights of V-Ridium (a subsidiary of V-R Europe), meaning in turn that V-R Europe will have qualified share capital in GreenVolt, a share that will be decided by the Initial Public Offer” the company explained on 3 May.