Nel ASA – Divesting of Everfuel shares.
Nel ASA (Nel, OSE:NEL), has agreed to sell all its shares in Everfuel. A total of 11,698,918 shares are sold for a total consideration of NOK 116.6 million, equal to NOK 9.97 per share. Nel has reported the holding in Everfuel as a financial current asset and expects to book a gain in the fourth quarter of 2023 of NOK 23 million related to the transaction.
HyVC ApS, a company owned by the leading Japanese corporations Itochu Corporation and Osaka gas, is the block buyer of the shares.
Kjell Christian Bjørnsen, CFO of Nel, said:
Nel is in a build-up phase streamlining the company and focusing all resources on our own growth. We are therefore divesting non-strategic financial positions.
“With this sale we no longer own any equity listed instruments.”
Everfuel was spun out of Nel in 2020 and has since then been a key client for both Nel’s Electrolyser and Fueling departments.
Bjørnsen, says:
“With this transaction, Everfuel will get a solid, long-term industrial cornerstone investor. Nel has been with Everfuel from the beginning, and while we are no longer shareholders, we look forward to a close relationship with the company.”
The transaction price represents the volume-weighted average trading price of the Everfuel share over the past 5 trading days. Closing of the transaction is contingent upon regulatory approvals.
Carnegie acts as financial advisor to Nel in connection with the transaction.
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Nel ASA – Divesting of Everfuel shares. source