Edition:
India

Audax Renovables To Merge With Parent Audax Energia


Friday, 29 Jun 2018 

July 2 (Reuters) - AUDAX RENOVABLES SA ::SAID ON FRIDAY HAS FORMULATED WITH AUDAX ENERGIA A COMMON PROJECT OF MERGER BY ABSORPTION, WITH AUDAX RENOVABLES AS THE ABSORBING COMPANY AND AUDAX ENERGIA AS THE ABSORBED COMPANY.TO EXCHANGE 300 MILLION NEW SHARES OF AUDAX RENOVABLES FOR 1.8 MILLION SHARES OF AUDAX ENERGIA .EXCHANGE RATIO VALUES OPERATION IN ABOUT 352 MILLION EUROS .ONCE MERGER IS COMPLETED, 90.7 PERCENT OF SHARE CAPITAL WILL BE OWNED BY ELECTRICA NURIEL AND 9.3 PERCENT WILL CORRESPOND TO FREE FLOAT. 

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19 Jul 2019