EQS-News

Calvert International AG: Calvert International signs agreement to acquire Emerging Energy Corporation

EQS-News: Calvert International AG / Key word(s): Takeover Calvert International AG: Calvert International signs agreement to acquire Emerging Energy Corporation 22.08.2023 / 09:00 CET/CEST The issuer is solely responsible for the content of this announcement. RELEASE OF A CORPORATE NEWS

 

Calvert International signs agreement to acquire Emerging Energy Corporation

• Significant synergy and growth potential
• Expansion of Calvert’s business model towards a listed African energy holding 

 

Frankfurt am Main, 22^nd August 2023

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Calvert International AG (CIAG), ISIN DE000A2YN5X9, a rapidly growing investment holding company focused on the African energy sector, announced today that it has signed a definitive agreement to acquire all outstanding shares in Emerging Energy Corp. AG ('EEC'), a firm dedicated to creating growth in the African hydrogen and renewable energy space. CIAG Management welcomes the possible acquisition as a milestone in the Company’s strategic shift towards being the preeminent listed energy holding focused on Africa. The transaction is expected to close by the fourth quarter of 2023, subject to regulatory approvals and standard closing conditions.

EEC is a dynamically growing firm, active in the areas of hydrogen, biogas and off-grid solar solutions. Through its shareholdings, EEC holds minority interests in biogas and off-grid solar developers active across Africa. Through its acquisition of EEC, CIAG sees significant growth potential to its currently existing business model, such as the expansion of CIAG into the highly sought-after off-grid solar and hydrogen markets, as well as access to the capital market for growth funding of CIAG’s new wholly owned subsidiary. Furthermore, possible personnel support, know-how transfer and economies of scale, as well as regional diversification will also give rise to synergies.