Martifer Group informs about advanced talks for the disposal of its 55 % share in Martifer Solar
Martifer, SGPS, S.A., hereby informs that it is in exclusive negotiations with French renewable electricity generator Voltalia for the sale of its participation in Martifer Solar. According to the ongoing discussions, Voltalia intends to buy 100 % of Martifer Solar, S.A., excluding its US entities.
Subject to the usual conditions precedent, the final agreement and the effective transaction should close in 3Q 2016.
Voltalia (Euronext Paris, code ISIN: FR0011995588) is an integrated renewable player, therefore the transaction will also preserve the continuity of Martifer Solar’s business.
This disposal is in line with the plan announced in September 2014 regarding the disposal of non-core businesses. The sale will contribute to the reduction of Martifer’s net debt.