Lisbon, Oct. 29 out 2024 (Lusa) - Greenvolt was today excluded from the PSI, the main reference index for the Portuguese capital market, on Tuesday, which now has only 15 companies, a Euronext source confirmed to Lusa.
Greenvolt's shares are still listed ‘but have been excluded from the index’, the source said.
Greenvolt, led by Manso Neto, made its debut on the then PSI-20 on 20 September 2021, two months after joining the Lisbon stock market.
The PSI (Portuguese Stock Index) is the index that brings together the largest companies listed on Euronext Lisbon with a capitalisation of more than €1 billion.
On Friday, Euronext announced in a statement that the Americans from Kohlberg Kravis Roberts (KKR) had managed to acquire 97.64% of Greenvolt after launching a general and mandatory takeover bid for the company led by Manso Neto.
According to the information released on Friday, the group, which launched the offer through the company GVK Omega, holds 159,389,340 shares, which correspond to 97.64% of Greenvolt's share capital and voting rights. The object of this offer is 33.37%, corresponding to securities not yet held by the American company.
KKR can now proceed, as it had planned, with the right of potestative acquisition, as it has a position of 90% or more, ‘which will result in the shares being excluded from admission to trading on Euronext Lisbon’, it recalled.
The statement explained that the group acquired 18.93% of Greenvolt's capital through the offeror (GVK Omega) and other KKR subsidiaries on and off the stock exchange during the offer period.
The total ‘acquired by the offeror as a result of the offer through the stock exchange centralisation service’ was 12.08%.
At the end of 2023, KKR launched a voluntary offer for Greenvolt, which eventually became mandatory.
On 3 June, KKR revealed that it would convert the bonds into shares through the company GV Investor Bidco, leaving it with an 82% position in the company.
According to a prospectus published by the Portuguese Securities Market Commission (CMVM), KKR paid €8.3107 for each share in this offer, "which equates to a total offer amount of €452,683,371.9."
The offer began on 7 October and ended last Thursday.
MC/ADB // ADB.
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