GreenVolt in “advanced phase” on PAO

 In Energy, News, Renewables

Three months after considering floating on the stock market, the renewables company GreenVolt which is owned by Altri and run by ex-EDP Renewables president Manso Neto, could be bought out in Public Acquisition Offer or PAO.

Lazard Financial Advisors and Lazard Frères Banque have been studying the renewables energy market for months and negotiations at an advanced phase so that now GreenVolt could soon be the object of a PAO takeover.
“We are at a very advanced phase in terms of decision-making regarding the PAO” said the CEO of GreenVolt” to questions from online news source ECO which has also learnt that a decision is expected by the end of the month.
Renewable energy companies which have been trying to join the capital markets have faced some difficulties, particularly in Spain. OPDenergy backtracked on its plans to float on the stock market while Ecoener slashed the total number of its shares to be floated on the market when launching.
More recently, Acciona has pressed ahead with floating Acciona Energia on the stock market and should make its debut on 1 July in Madrid.
Those renewable energy companies that did join the stock market did well in 2020 but have been losing some of their value since the start of this year, which is not good for companies that need investors to finance their growth.
These fears over renewable energy companies are shared by large and small investors alike, which in the case of GreenVolt, it is not yet known if there is a PAO if there will be a part of the company dedicated to retail.
“Only after the decision has been taken on the PAO “will the terms of this market position be definitely defined,” said Manso Neto.
For all the investors, particularly small savers, the great attraction of investing in listed shares has to do with the dividends paid out to the shareholders.
In the case of GreenVolt one thing is sure: there will be no dividend payouts for the time being. We are a company in the process of growth”, said the CEO of GreenVolt on Capital Markets Day.