Fnm S.p.a. · MIL:FNM
Fnm — Merger or Acquisition (January 2024)
9 slides from Fnm's merger presentation, Jan 18, 2024
Slide 1: Viridis Energia Acquisition: Entry in the Renewable Generation Sector
FNM GROUP VIRIDIS ENERGIA ACQUISITION: ENTRY IN THE RENEWABLE GENERATION SECTOR 18 January 2024
Slide 2: The rationale of the acquisition
The rationale of the acquisition • Industrial investment in a portfolio of 47MW renewable power plants already in operation and generating positive cash flows • Operating structure with established expertise in the development, construction and operation of renewable Short term energy plants, capabl
Slide 3: Target with a material size, operational facilities, an experienced team and a significant pipeline
Target with a material size, operational facilities, an experienced team and a significant pipeline Key assets acquired › Viridis is an Independent Power Producer (IPP) with diversified sources, predominantly solar-PV, with operational facilities, multiple initiatives in pipeline, and a structure in
Slide 4: Viridis structure as-is
Viridis structure as-is Lagi Energia 2006 Srl HNF SpA 66.7% 33.3% VIRIDIS ENERGIA SRL SOLAR-PV BIOGAS WIND CORPORATE TOTAL Operational 52 MW 2 MW 0 MW 38.5 FTE facilities and Incentivized (Conto Incentivized with 54 Energia II and IV and All-inclusive tariff MW corporate “FER1”) + 7 MW on (expiratio
Slide 5: Semiannual financial highlights at 30/06/2023
Semiannual financial highlights at 30/06/2023 6M23 FNM 6M23 Viridis stand alone stand alone2 (€mln) (€mln) Revenues 301.6 8.5 EBITDA 100.0 4.9 NFP 761.7 16.2 NFP/EBITDA 3.8x1 1.8x1 1 – EBITDA 1H23 annualized 2 – Consolidated financial results prepared by Viridis adj as per Termsheet 5
Slide 6: The transaction
The transaction Acquisition from Target Spa of a 80% stake in Viridis and its fully owned subsidiaries active in the development, construction and operations of a portfolio of renewable power plants as follows: - nr. 23 solar power plants in operations for a total installed capacity of 45 MWp - nr.
Slide 7: The transaction
The transaction Usual for this kind of transactions, including, but not limited to, subject to due diligence: • Completion of all the extraordinary transactions aimed at reaching the finals structure of the transaction (including the acquisition by Conditions precedent Viridis of 100% stake in certa
Slide 8: Timeline
Timeline 2024 Jan Feb Activity Week 02 03 04 05 06 07 08 09 FNM BoD approving the signing of the Binding Offer 15.1.24 Expected signing of Binding Offer 16.1.24 Binding Offer deadline 16.1.24 Due diligence 15.2.24 SPA negotiation 15.2.24 Signing deadline 15.2.24 Closing deadline / End of exclusivity
Slide 9: Contacts
Contacts Valeria Minazzi Investor Relations Director Fixed line: +39 02 8511 4302 valeria.minazzi@fnmgroup.it investor.relations@fnmgroup.it