European Energy has entered into an agreement with Mitsubishi HC Capital, in which Mitsubishi HC Capital Inc. will acquire a 20% stake in European Energy A/S. With this agreement, European Energy strengthens its capital base and growth potential and brings in Mitsubishi HC Capital as a strategic partner.
The gross proceeds of the deal will provide European Energy a capital injection of approximately € 700 million from the issuance of new shares. Mitsubishi HC Capital will subscribe to approximately 72 million new shares in European Energy. Additionally, Mitsubishi HC Capital will purchase around 3 million shares from the three major shareholders in European Energy. This will make Mitsubishi HC Capital the second largest shareholder in European Energy, holding 20% of the share capital and voting rights. As part of the transaction, Mitsubishi HC Capital will collaborate actively towards the value creation and strategic growth of European Energy, including through representation on the board of directors. Closing of the transaction is subject to the fulfillment of certain conditions, including regulatory approvals. It is expected to be completed in the first half of 2024.
