Egea: Complete Acquisition by Iren
Deal News | May 23, 2025 | Legal Community Italy
Iren has completed the acquisition of an additional 47.23% stake in Egea Holding from MidCo 2024, bringing its control over the company to 100%. This acquisition, valued at a minimum of €74.8 million with a supplementary price of €4 million, facilitates Iren's swift implementation of planned development investments, enabling new growth projects and rapid business integration. The transaction was supported by legal advisory services from Leading Law Notai e Avvocati, along with Dr. Rossana Clemente. The agreement includes a €68.9 million payment at closing with a deferred portion of €6.7 million due by March 31, 2029. It also involves Iren acquiring full ownership of Capo dell'Acqua, a company seeking authorization to build a 90MW agrivoltaic plant in Puglia.
Sectors
- Energy
- Legal Services
Geography
- Italy – The transaction and the companies involved, including Iren, Egea Holding, and Capo dell'Acqua, are based in Italy.
- Puglia – Capo dell'Acqua's future project location is in Puglia, highlighting regional relevance.
Industry
- Energy – This article discusses acquisitions involving companies that are engaged in energy projects, including agrivoltaic (combination of agriculture and photovoltaic energy) and hydrogen production.
- Legal Services – This article involves the legal advisory services that facilitated the acquisition deal of Egea Holding by Iren.
Financials
- 74.8 million Euros – Minimum quantified price for the acquisition of 47.23% of Egea Holding by Iren.
- 4 million Euros – Additional amount for the acquisition of Capo dell'Acqua shares.
- 68.9 million Euros – Payment amount at closing for the acquisition.
- 6.7 million Euros – Deferred payment amount to be paid by March 31, 2029.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Iren | Bidding Company | Company | Iren is the company acquiring full control of Egea Holding. |
| Egea Holding | Target company | Company | The company in which Iren is acquiring the remaining stake to achieve full ownership. |
| MidCo 2024 | Selling Company | Company | The seller of the 47.23% stake in Egea Holding. |
| Capo dell'Acqua | Other Company | Company | A company involved in the transaction with plans for agrivoltaic energy and hydrogen production. |
| Leading Law Notai e Avvocati | Legal Advisor | Company | The legal firm that assisted in the transaction process. |
| Rossana Clemente | Legal Advisor | Person | Individual from the company office who supported the notarial aspects of the transaction. |