EQS-News

Calvert International AG signs binding term sheet to acquire African Energy Week

EQS-News: Calvert International AG / Key word(s): Takeover Calvert International AG signs binding term sheet to acquire African Energy Week 11.12.2023 / 12:00 CET/CEST The issuer is solely responsible for the content of this announcement. Calvert International AG signs binding term sheet to acquire African Energy Week

 

Calvert International AG signs binding term sheet to acquire African Energy Week

 

• Large value accretion to both companies‘ shareholders

• Leverage synergy potential between advisory, promotion and investment business units

 

Frankfurt am Main, 11 December 2023

 

Calvert International AG (CIAG), ISIN DE000A2YN5X9, a fast-growing investment holding company focused on the African energy sector, announced today that it has signed a binding term sheet to acquire a majority stake in the South African conferencing company Africa Energy Week Pty. Ltd. (AEW).

 

AEW is a major player in the conference business with its eponymous series of events, which promote business opportunities in the energy sector across the continent. The conference, with over 5,000 delegates this year alone, proved to CIAG management team that it is capable of running a stable and highly profitable business in a competitive environment. With speakers such as the President of the Republic of Namibia, Hage Geingob, AEW has demonstrated its ability to deliver a high-level conference to promote the opportunities in the African energy sector.

 

With this deal, CIAG will significantly increase its market capitalization and achieve its 2024 growth forecast. "The acquisition of AEW is an important milestone for CIAG and gives us the opportunity to expand our portfolio. We stand behind AEW‘s management team and are confident that the company will grow over the next few years by becoming the most important conference in the sector. We see great synergies with our existing subsidiaries and look forward to working closely with the AEW team," says Florian Stahl, chair of CIAG's Supervisory Board.