Corporate News


Elbe BidCo AG submits formal request to carry out a merger squeeze-out of the minority shareholders of ENCAVIS AG

Hamburg, 18 February 2025 – Today, Elbe BidCo AG informed the management board of ENCAVIS AG (“Encavis” or the “Company”) that following today’s settlement of the delisting offer, Elbe BidCo AG currently holds 94.15% of Encavis shares.

Against this background, Elbe BidCo AG has submitted a repeated formal request to the Company’s management board today as per its previous notice to the Company on 31 January 2025 to carry out a squeeze-out merger of the remaining Encavis minority shareholders against an appropriate cash settlement in accordance with section 62 para. 1 and 5 of the German Transformation Act (Umwandlungsgesetz) in conjunction with sections 327a et seq. of the German Stock Corporation Act (Aktiengesetz). Therein, Elbe BidCo AG reiterated its proposal to enter into negotiations with the Company’s management board regarding a merger agreement.

The amount of the appropriate cash settlement to be provided by Elbe BidCo AG, as the Company’s principle shareholder, to the remaining Encavis minority shareholders for the transfer of their shares will be determined at a later date. Elbe BidCo AG has announced that it will inform Encavis of the amount of the cash settlement in a further notice, the so-called specified demand, as soon as it has been determined.


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About ENCAVIS:
The Encavis AG is a producer of electricity from Renewable Energies. As one of the leading independent power producers (IPP), ENCAVIS acquires and operates (onshore) wind farms and solar parks in twelve European countries. The plants for sustainable energy production generate stable yields through guaranteed feed-in tariffs (FIT) or long-term power purchase agreements (PPA). The Encavis Group’s total generation capacity currently adds up to around 3.7 gigawatts (GW), of which around 2.4 GW belong to the Encavis AG, which corresponds to a total saving of around 0.8 million tonnes of CO2 per year stand-alone for the Encavis AG. In addition, the Group currently has more than 1.3 GW of capacity under construction, of which around 900 MW are own assets.

Within the Encavis Group, Encavis Asset Management AG offers fund services to institutional investors. Another Group member company is Stern Energy S.p.A., based in Parma, Italy, a specialised provider of technical services for the installation, operation, maintenance, revamping and repowering of photovoltaic systems across Europe.

ENCAVIS is a signatory of the UN Global Compact as well as of the UN PRI network. Encavis AG’s environmental, social and governance performance has been awarded by two of the world’s leading ESG rating agencies. MSCI ESG Ratings awarded the corporate ESG performance with their “AA” level and ISS ESG with their “Prime” label (A-), the Carbon Disclosure Project (CDP) with its Climate Score “B” and Sustainalytics with its “low risk” ESG risk rating.

www.encavis.com


Contact:
ENCAVIS AG
Dr. Oliver Prüfer
Press Officer & Manager Public Relations
Tel.: + 49 (0)40 37 85 62 133
E-Mail: oliver.pruefer@encavis.com