- The transaction was carried out through the acquisition of the shares of the SPVs owning the plants by a leading international investor in the PV sector
- The purchasers have also assumed financial debts linked to the plants for approximately Euro 7.2 million
- The three agricultural companies are owners of agro-voltaic greenhouse plants for a total of about 4.6 MW
- This transaction completed the disposal programme for a countervalue of Euro 9 million, as envisaged by the financial manoeuvre related to the algoWatt Recovery Plan (covenant Financial Parameter 2021)
algoWatt, a GreenTech Company listed on the Euronext Milan market of Borsa Italiana, following its announcement on 16 May 2019 and subsequently on 15 November 2021, announces that it has today signed the closing for the sale to a leading international investor in the photovoltaic sector, in partnership with the sponsor LCF Alliance, the shares representing the entire share capital of three agricultural companies, included among the divestments of the algoWatt Recovery Plan. The consideration for the sale of the companies that own the three agri-voltaic greenhouses, with a total capacity of approximately 4.6 MW, amounts to Euro 3.3 million. The transaction also involves the assumption by the Purchasers of financial debts linked to the plants for approximately Euro 7.2 million. The payment was made in cash. Following to what was communicated on 21 June 2021, algoWatt also informs that this transaction has led to the completion of disposals programme for a countervalue of Euro 9 million, as envisaged by the financial manoeuvre related to algoWatt’s Recovery Plan (covenant related to the 2021 Financial Parameter). algoWatt was assisted by Grimaldi Studio Legale, as legal advisor, with a team led by the Partner, Annalisa Pescatori; the purchaser and LCF Alliance were assisted by the Energy Team of Rödl & Partner, with a team led by the Partner, Roberto Pera, as legal, tax and financial advisor.