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Altri prepares to hand over position at Greenvolt to shareholders - Industry

Altri prepares to hand over position at Greenvolt to shareholders – Industry

Altri will consider improving its stake in Greenvolt, “which could involve a potential process of making that stake independent,” it reveals in its first nine-month results presentation.

Something will happen ‘if this constitutes an appropriate response to the optimal development of the firms involved, adjusted to the underlying reality of their own business and their prospects for development and once the impact and advantages of complete separation of firms have been analyzed.’

He says that the ultimate independence of each of these firms, “which will be implemented, may also allow for the separation of the two firms’ balance sheets, helping both to pursue their business plan independently.”

As the group makes clear, completion of this final operation “would be based on a model in which Altri shareholders would retain their entire majority stake in Greenvolt, in a form to be determined after consideration,” and under the circumstances that it “will not likely result in a transfer of control of Greenvolt from Altri to another entity,” he asserts.

He stresses that the potential realization of such a process to empower companies and their business depends on obtaining all legal, statutory, contractual and regulatory approvals, in this case, in particular, by the Portuguese Securities Market Authority.

The group also ensures that “such a potential operation, should it occur, will always honor its assumed closing obligations in effect until January 15, 2022, either by Altri or GreenVolt, in the context of the IPO,” meaning that it can be “implemented if it is found to be viable and sufficient.” After obtaining all required permits, as expected during the second quarter of 2022.”

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The company also states that the natural evolution of its business and that of Greenvolt “records different cycles and rhythms and draws the attention of different profiles of financiers and investors.”