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Company announcement 02/2024 (19. 01. 2024)
European Energy A/S (European Energy) today signed an investment agreement with Mitsubishi HC Capital Inc. (Mitsubishi HC Capital), a Japanese company indexed on the Tokyo and Nagoya stock exchanges.
Under the investment agreement, Mitsubishi HC Capital will subscribe approximately 72 million new shares and buy, in total, approximately 3 million shares of the 3 largest shareholders of European Energy, ultimately controlled through Knud Erik Andersen, Mikael D. As a result, Mitsubishi HC Capital will own 20% of the outstanding shares and voting rights of European Energy upon completion of the transaction.
Through the transaction, European Energy will raise gross proceeds of approximately EUR 700 million. The capital raise will strengthen European Energy’s balance sheet and will be used to contribute to the continued growth of European Energy.
As a component of the transaction, Mitsubishi HC Capital will actively assist in the creation and strategic expansion of European Energy, in addition to being represented on the board of directors of European Energy.
The completion of the transaction is subject to the satisfaction of certain standard final conditions, in addition to regulatory approvals, and is expected to take place in the first part of 2024.
Jens Due Olsen, Chairman of the Board of Directors of European Energy, comments: “The partnership with Mitsubishi HC Capital represents a vital milestone for European Energy. Their overseas presence and strategic mindset are key to driving the expansion of our business, especially in the Face of developing capital demand in this industry, this transaction will reinforce our role in the green energy transformation.
Knud Erik Andersen, CEO and co-founder of European Energy, added: “I am very pleased to welcome Mitsubishi HC Capital to our shareholder group. Their strategic focus aligns perfectly with our current strategy and our purpose to expand European Energy’s impact in the fight against climate change. The capital injection more than triples our equity, offering us greater opportunities to boost our business.
Takuji Naruse, Managing Director and Head of Environment and Energy at Mitsubishi HC Capital, said: “We are very pleased to participate in this strategic partnership with European Energy. Mitsubishi HC Capital sees a prospect of significant expansion in European Energy and room to create synergies. Mitsubishi HC Capital, leveraging our experience and strengths in the market, will work with European Energy for pricing and decarbonization.
About European energy
European Energy, founded in 2004 in Denmark, is one of Europe’s leading renewable energy developers, with activities across the chain. The company is present in 28 countries, with a project portfolio of more than 60 GW. European Energy is a pioneer in Power-to-X (PTX) innovation and is recently building the world’s largest e-methanol production facility and maintains a significant portfolio of PTX projects.
About Mitsubishi HC Capital Group
Mitsubishi HC Capital Group (the Group) operates and develops a number of businesses globally with seven business segments: Customer Solutions, Global Trade, Environment & Energy, Aviation, Logistics, Real Estate and Mobility.
Mitsubishi HC Capital Inc. (TSE, NSE: 8593), incorporated in 1971, has achieved solid business growth, supported by its monetary position and long-term credibility.
Please visit https://www.mitsubishi-hc-capital.com/english/ for more information.
Investor & Media Inquiries
Investor Relations: Martin Graa Jennum, Director & Head of Corporate Finance, FP
Press: Ming ou Lü, Public Relations Officer: miol@europeanenergy. com, forty-five 3126 9376.