Swiss Life Asset Management Acquires Everfuel in Bid to Ensure Firm's Survival
Key Ideas
- Swiss Life Asset Management is acquiring Everfuel, a Danish green hydrogen pioneer, in a bid to secure the firm's survival.
- The acquisition, valued at EUR 94m, involves taking over the company through the bidding company Faro Bidco and delisting it from the stock exchange.
- The offer of NOK 13 per share values Everfuel at NOK 1.1bn, marking a significant investment in the hydrogen producer.
- The CEO's statement highlights the importance of this acquisition for Everfuel's future, indicating a positive outlook on the company's development.
Swiss Life Asset Management, a Swiss asset manager, has announced its acquisition of Everfuel, a Danish green hydrogen pioneer, in a move aimed at ensuring the survival and future growth of the firm. The acquisition, valued at EUR 94m, involves Swiss Life taking over Everfuel through the bidding company Faro Bidco, with intentions to delist it from the stock exchange. The offer of NOK 13 per share indicates a total valuation of NOK 1.1bn for Everfuel. The CEO of Everfuel emphasized the necessity of this acquisition for the firm's survival, indicating that this move is crucial for its future development. This significant investment in the hydrogen producer showcases a positive sentiment towards the potential of green energy and the role of hydrogen in the transition to more sustainable practices.