EQT Infrastructure places voluntary takeover bid for Solarpack

EQT Infrastructure announces a voluntary takeover bid for Solarpack, a developer and owner of solar photovoltaic plants, mainly active in Spain, Chile, and India, after signing irrevocable agreements with the Vendor Shareholders to sell their full stake of 50.957 percent in the context of the takeover bid.

Veleta BidCo S.à r.l., a special purpose company indirectly wholly owned by the EQT Infrastructure V fund placed a voluntary takeover bid for 100 percent of the share capital of Solarpack Corporación Tecnológica, S.A. Prior to the announcement, Beraunberri, S.L., Landa LLC and Burgest 2007, S.L., who jointly hold 50.957 percent stake in the Solarpack, have signed irrevocable agreements with the EQT under which they undertake to sell their full stake at EUR 26.50 in cash per share in the context of the takeover bid.

The offer will be conditional upon reaching a minimum acceptance level of 75 percent plus one share (including the shares owned by the Solarpack Shareholders), as well as receipt of Spanish antitrust authorities' approval. EQT intends to seek the delisting of the Solarpack's shares, subject to applicable regulatory approval and corporate consents and formalities.

EQT is being advised by Clifford Chance (legal advisor) and Credit Suisse (financial advisor) in the transaction.