Bryan, Garnier & Co advises Voltalia on its transfert to Euronext and €100m Capital Increase

Bryan, Garnier & Co advises Voltalia on its transfert to Euronext and €100m Capital Increase

News published on July Thursday 31, 2014
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Paris, July 31st 2014 – Bryan, Garnier & Co, the European Growth Investment Bank, announces the transfer to Euronext (Compartment B) and EUR 100m capital increase of Voltalia, a producer of electricity from renewable energy sources under the ticker symbol "VLTSA". Bryan Garnier & Co acted as Joint Lead Manager and Bookrunner on the transaction.

Olivier Beaudouin, Partner at Bryan Garnier commented: "We are delighted to support Voltalia in this important phase of their development cycle. Voltalia has a unique positioning for a European stock in the renewables space, with a fast growing portfolio of multi-energy projects for its own account, and a notable exposure to the Trade Winds in Northern Brazil, where wind power is among the most economically attractive energies. This is a landmark transaction in the renewables space, at the infrastructure end of the spectrum, following the very successful EUR 32m IPO of McPhy Energy, a vendor of hydrogen storage technology, at the other end of the renewables spectrum, earlier in the year. After almost ten years of commitment to the renewables/cleantech space at Bryan Garnier, we are delighted to see renewed interest from the investor community, acknowledging that beyond short term macro turmoil on an industry that needed to find its mark, the sector is fundamentally here to stay for the long term."

Gross proceeds from the transaction amounted to EUR 100 million through the issuance of 11,639,660 new shares priced at EUR 8.60 per share. This transaction brings the company's market capitalisation to nearly EUR 210 million.

Voltalia has raised the funds necessary to finance its change in dimension as the power plants in construction, mainly wind projects in Brazil, represent a combined 463MW, thereby increasing the size of its assets in operation from 52MW at present to more than 515MW in consolidated terms in 2017.

Sébastien Clerc, CEO of Voltalia, stated: "We are very pleased to announce the success of our capital increase and our transfer to Compartment B of Euronext. We'd like to express our gratitude to our shareholders—both old and new—for the trust they have shown in us. The funds raised will help us finance ongoing construction at our plants in France and Brazil over the next 12 months. This will expand our electricity generation capacity sevenfold by mid-2016 to 363 MW of installed capacity from 52 MW today. The initial stage of this ambitious, structurally important construction programme will be completed this year, as five new wind power plants become operational and our total production capacity reaches 162 MW. These funds will also help us finance part of our development projects. This expansion, occurring on a highly promising market in which we are already very solidly placed, will allow us to consolidate our position as a renewable energy expert listed on Euronext Paris. Finally, this transaction will strengthen Voltalia by increasing its total equity by a factor of 2.5 and doubling the volume of its public float."


About Voltalia

Voltalia is a producer of electricity from renewable energy sources. Specialist of small and medium production units, Voltalia develops, owns and operates power plants with a multi-energy strategy, by selecting the best sites suitable for renewable energy technologies: wind, solar, hydro and biomass.
Voltalia manages all aspects of projects, whether the phase of development, construction, operation and maintenance of power plants. Voltalia is present in France, Brazil, Greece and Guiana.
Voltalia is listed on the regulated market of Euronext Paris Compartment B (FR0011995588 – VLTSA).

About Bryan, Garnier & Co (www.bryangarnier.com)

Bryan, Garnier & Co is an independent investment bank specialized in European growth companies, providing them with Equity Research & Brokerage, Asset Management and Corporate Finance services. With more than 120 professionals based in London, Paris, New York, Geneva and New Delhi, Bryan, Garnier & Co combines the range of services and the expertise of top-tier investment banks with the level of attention to clients of a boutique. Bryan, Garnier & Co is a leading advisor to European growth companies on strategic finance transactions such as mergers & acquisitions, equity capital market, LBOs and private placement. Bryan, Garnier & Co is authorized and regulated by the Financial Conduct Authority (FCA) in the United Kingdom, and is member of London Stock Exchange and Euronext, Alternext Listing Sponsor, and is active on all European capital markets.

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