January 13 (Renewables Now) – A style enterprise household has purchased a 5.8% stake in Spanish renewable power and fuel provider Audax Renovables SA (BME:ADX), the corporate mentioned on Tuesday.
Homeowners of Spanish kids’s style firm Mayoral paid over EUR 56 million (USD 68.2m), or EUR 2.20 per share. The household purchased the stake from Electrica Nuriel SLU, a enterprise managed by Audax president and largest shareholder Jose Elias.
Elias, who is claimed to be dedicated to lowering his stake in Audax, now controls round 70% of the corporate’s share capital.
The Mayoral house owners carried out the transaction via a subsidiary of the household’s holding firm, Audax mentioned within the press launch.
The household additionally accepted Electrica Nuriel’s current lock-up dedication that has been in place because of Audax issuing inexperienced convertible bonds for EUR 125 million in November 2020, the corporate added.
(EUR 1.0 = USD 1.218)