Edison, through its wholly owned subsidiary Fenice, signed a binding agreement with Prima Holding for the purchase of the majority stake in Zephyro. The operation will involve the launch of a mandatory takeover bid. In detail, shares equal to 100% of Zephyro's capital will be purchased at the price of 71,6 euros per share. The company announced it.
"I am proud to announce this operation - said Paolo Quaini, director of Edison's energy and environmental services division - We are convinced that we will have an important role in this market thanks to Edison's skills and capacity for innovation". The closing is subject to certain conditions precedent, including the Antitrust authorisation.
Edison will fully consolidate Zephyro from the closing date. Following the closing, Fenice will promote, within the terms and in accordance with the law, the mandatory takeover bid on all the remaining Zephyro shares, at the same price of 10,25 euros per share. Zephyro, whose ordinary shares have been traded on Aim Italia since December 2015, is a leading Italian operator that offers integrated energy management solutions through the design and implementation of energy redevelopment projects with a high technological content, as well as the management and plant maintenance and the supply of related services for complex energy-intensive structures, aimed at limiting consumption and polluting emissions and at achieving cost savings. The company closed 2017 with a turnover of 69 million and an Ebitda of 15,9 million.
