TerniEnergia, a company operating in the renewable energy sector, announces the execution of the acquisition concerning two going concern divisions by Vittoria S.r.l., with headquarter in Lecce. By virtue of this transaction, TerniEnergia acquires projects and administrative authorizations relating to 2 photovoltaic plants whose total power is approximately 2 MW. In addition TerniEnergia acquires the building right for the next 25 years on a land that is about eight hectares extended, located in Torchiarolo Municipality (in the province of Brindisi).
The projects mentioned above, one of which is already under construction, are provided with STMD, that is the authorization according to which a quick connection to the net is allowed.
According to this transaction, TerniEnergia undertook to pay Euro 450,000 for each single going concern division. Such payment shall be effected by TerniEnergia through its own shares.
The price for the going concern division whose project is already under construction is paid through the transfer, at the date of subscription, of no. 113,550 TerniEnergia’s shares (each share is valued at Euro 3,963).
The payment of the price of the second going concern division shall take place, after the connection to the net, through the transfer of a number of shares to be determined on the basis of the average closing price registered during the five trading days preceding the shares transfer.
The Chairman and Managing Director of TerniEnergia, Avv. Stefano Neri, commented as follows: “The transaction that has been just executed is a further step in our growth and for the widening of our market share in the domestic territory. These projects are particularly significant since they are provided with authorizations allowing a quick connection to the net.”
