Nordic Financials ASA — M&A Activity 2021

Nov 15, 2021

Aega ASA signs exclusivity agreement for potential purchase of two solar parks

Aega ASA signs exclusivity agreement for potential purchase of two solar parks

15 November 2021 – Aega ASA (Aega) has signed a non-binding offer for the potential acquisition of two solar parks in Italy with a total capacity of 1.3 MW.

Aega now enters an exclusivity period to conduct technical and legal due diligence of the two solar parks. If the outcome of the due diligence process is satisfactory, the two parties will sign a share purchase agreement, at pre-agreed financial terms, for Aega to acquire the two solar parks.

Subject to a successful due diligence process, Aega estimates that the final share purchase agreement could be signed during the first quarter 2022, at which point Aega will share the financial details of the potential transaction. The two parks have the same owner and are located close to each other in central Italy. Both parties can still withdraw from the deal during the exclusivity period, this would trigger a compensation clause.

Aega is currently in negotiations with several other owners regarding the potential purchase of solar parks in Italy. On a general basis, Aega will going forward notify shareholders when either a preliminary mutually binding share purchase agreement or final share purchase agreement has been signed.

Aega CEO Nils P. Skaset comments that “We look positive on our deal flow in Italy, and are on track to double our portfolio and reach the 10 MW target set out for 2022.”

ENDS

For further information please contact:

Nils Petter Skaset, CEO of Aega ASA

Tel: +47 951 88 154, e-mail: ceo@aega.no

About AEGA

Aega ASA is a Norwegian listed investment company. The company focuses on acquisitions of smaller existing solar parks in Italy. In addition to being an industrial player in Italy, Aega also considers financial investments within the renewable energy sector.