APS Energia S.A. signed a letter of intent with NEO ENERGY GROUP Sp. z o.o.
On Tuesday, 23rd February 2021, Piotr Szewczyk, President of the Management Board, and Michał Maszkiewicz, Proxy representing APS Energia S.A. (Company), and Piotr Beaupre, President of the Management Board of NEO ENERGY GROUP Sp. z o.o. (NEO) signed a letter of intent to contribute to the Company assets enabling the development of projects related to the production and storage of energy from renewable sources. Both companies showed interest in strategic cooperation in this area.
The transaction, if successful, will consist in the contribution to the Company of designated assets owned by NEO as in-kind contributions in exchange for the issuance of the Company’s new issue shares, as a result of which NEO is to become a significant minority shareholder of APS Energia S.A.
The conclusion of the transaction depends in particular on the result of the due diligence process of assets contributed by NEO, negotiating transaction documentation, and obtaining the necessary approvals.
APS Energia S.A. has the exclusive right to conduct negotiations with NEO until June 30, 2021.
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