(Alliance News) - Ecomembrane Spa announced Friday that its board of directors has approved the acquisition of SBS Solar Srl, now controlled by Ecomembrane with an overall stake of 55 percent.

SBS, a company that designs and builds photovoltaic systems for industrial use and specializes in the renewable energy and energy-saving sectors, which was already 20 percent owned by Ecomembrane as of the IPO date, thus becomes part of the group's consolidation scope.

The transaction was finalized with a share purchase agreement from the selling shareholders Luigi Spedini and Michele Bonetti of a 35 percent stake in the share capital, for EUR10,500.

In addition, the shareholders' agreement with the minority shareholders for the corporate governance of SBS, the put&call agreement on the remaining stakes of the minority shareholders of SBS, the letter of appointment to Luigi Spedini for the position of chief executive officer of SBS, and the letter of commitment of the minority shareholders Luigi Spedini and Michele Bonetti for the subordinated and postponed repayment of the shareholders' loans they granted to SBS were signed.

With this transaction, reads the company's note, "Ecomembrane complements its offering in the renewable energy sector, presenting itself as a player capable of covering an even broader spectrum in the Green Transition landscape and fully confirming the objective announced at the time of the placement to become one of the main international leaders in the gas storage and containment sector."

Ecomembrane's stock closed Friday in the green by 1.6 percent at EUR6.18 per share.

By Chiara Bruschi, Alliance News reporter

Comments and questions to redazione@alliancenews.com

Copyright 2024 Alliance News IS Italian Service Ltd. All rights reserved.