Inside information: Aspo announces partnership with OP Finland Infrastructure LP to accelerate the green transition of Aspo’s subsidiary ESL Shipping
Aspo Plc
Inside information
November 8, 2023 at 3:30 p.m.
Inside information: Aspo announces partnership with OP Finland Infrastructure LP to accelerate the green transition of Aspo’s subsidiary ESL Shipping
In April this year Aspo announced that it has initiated a program to accelerate ESL Shipping’s green transition through a program assessing three alternative measures, including a launch of a new investment pool of fossil-free vessels, a possible equity injection in ESL Shipping by a minority shareholder, and the sales of the shipping company’s two Supramax vessels.
As the first result of this assessment, Aspo has today signed an agreement with OP Finland Infrastructure LP regarding an investment of EUR 30 million into Aspo’s subsidiary ESL Shipping. The investment will be made against issuance of new shares in ESL Shipping with an agreed pre-money equity valuation of EUR 165 million, corresponding to a 15.38% ownership stake in ESL Shipping. This implies an enterprise value of approx. EUR 300 million for ESL Shipping.
The transaction is subject to competition authority filings and change of control approvals from financial institutions. The closing of the transaction is expected to take place during Q1/2024.
“We are delighted to have found a partner in OP Finland Infrastructure LP to support Aspo and ESL Shipping in accelerating the company’s low-carbon growth strategy. We see immense infra-like growth opportunities in ESL Shipping’s market and want the company to play an active part in the ongoing sustainability transformation”, says Rolf Jansson, CEO of Aspo Group.
“For us this is a great investment opportunity to accelerate the green transition of ESL Shipping and its customers in Finland and around the Baltic Sea.”, says Ossi Vasala of OP Finland Infrastructure LP.
ESL Shipping’s strategy
ESL Shipping’s ambition is to instrumentally support the sustainability driven transformation of its industrial customers by taking further steps in offering them completely fossil-free sea transportation. ESL Shipping’s strategy is focused on long-term industrial partnerships and on being a forerunner in sustainability. The ongoing green transition will substantially enlarge ESL Shipping’s market and offer significant growth opportunities.
The already ongoing investment in twelve green coasters is progressing as planned. A total of seven vessels are already under construction and the first vessel in the series, Electramar, was successfully launched in June and is expected to be delivered during Q4/2023. The second vessel, Stellamar, was launched in October.
The program to accelerate ESL Shipping’s green transformation will continue through further investments in fleet and technologies enabling fossil-free shipments for the company’s customer base.
To finance the strategic growth of ESL Shipping, the parties will continue assessment of alternative measures, including launch of a new investment pool of fossil-free vessels, sales of the company’s two Supramax vessels and raising further equity through additional co-investments into ESL Shipping.
Aspo Plc
Rolf Jansson
CEO
Further information, please contact:
Rolf Jansson, CEO, Aspo Plc, +358 400 600 264, rolf.jansson@aspo.com
Distribution:
Nasdaq Helsinki
Key media
www.aspo.com
Aspo creates value by owning and developing business operations sustainably and in the long term. Our companies aim to be market leaders in their sectors. They are responsible for their own operations, customer relationships and the development of these aiming to be forerunners in sustainability. Aspo supports its businesses profitability and growth with the right capabilities. Aspo Group has businesses in 18 different countries, and it employs a total of approximately 800 professionals.
OP Finland Infrastructure LP is a fund investing in Finnish infrastructure. The fund is managed by OP Asset Management Ltd, part of OP Group. The fund has committed capital of some EUR 260 million from Finnish investors. The fund has an evergreen structure which enables the fund to be a truly long-term partner for owners of Finnish infrastructure.
Attachment
To view this piece of content from www.globenewswire.com, please give your consent at the top of this page.To view this piece of content from ml-eu.globenewswire.com, please give your consent at the top of this page.
About GlobeNewswire by notified
GlobeNewswire by notifiedGlobeNewswire by notified is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.
Subscribe to releases from GlobeNewswire by notified
Subscribe to all the latest releases from GlobeNewswire by notified by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from GlobeNewswire by notified
Iveco Group signs a 150 million euro term loan facility with Cassa Depositi e Prestiti to support investments in research, development and innovation11.6.2024 12:00:00 CEST | Press release
Turin, 11th June 2024. Iveco Group N.V. (EXM: IVG), a global automotive leader active in the Commercial & Specialty Vehicles, Powertrain and related Financial Services arenas, has successfully signed a term loan facility of 150 million euros with Cassa Depositi e Prestiti (CDP), for the creation of new projects in Italy dedicated to research, development and innovation. In detail, through the resources made available by CDP, Iveco Group will develop innovative technologies and architectures in the field of electric propulsion and further develop solutions for autonomous driving, digitalisation and vehicle connectivity aimed at increasing efficiency, safety, driving comfort and productivity. The financed investments, which will have a 5-year amortising profile, will be made by Iveco Group in Italy by the end of 2025. Iveco Group N.V. (EXM: IVG) is the home of unique people and brands that power your business and mission to advance a more sustainable society. The eight brands are each a
DSV, 1115 - SHARE BUYBACK IN DSV A/S11.6.2024 11:22:17 CEST | Press release
Company Announcement No. 1115 On 24 April 2024, we initiated a share buyback programme, as described in Company Announcement No. 1104. According to the programme, the company will in the period from 24 April 2024 until 23 July 2024 purchase own shares up to a maximum value of DKK 1,000 million, and no more than 1,700,000 shares, corresponding to 0.79% of the share capital at commencement of the programme. The programme has been implemented in accordance with Regulation No. 596/2014 of the European Parliament and Council of 16 April 2014 (“MAR”) (save for the rules on share buyback programmes set out in MAR article 5) and the Commission Delegated Regulation (EU) 2016/1052, also referred to as the Safe Harbour rules. Trading dayNumber of shares bought backAverage transaction priceAmount DKKAccumulated trading for days 1-25478,1001,023.01489,100,86026:3 June 20247,0001,050.597,354,13027:4 June 20245,0001,055.705,278,50028:6 June20243,0001,096.273,288,81029:7 June 20244,0001,106.174,424,68
Landsbankinn hf.: Offering of covered bonds11.6.2024 11:16:36 CEST | Press release
Landsbankinn will offer covered bonds for sale via auction held on Thursday 13 June at 15:00. An inflation-linked series, LBANK CBI 30, will be offered for sale. In connection with the auction, a covered bond exchange offering will take place, where holders of the inflation-linked series LBANK CBI 24 can sell the covered bonds in the series against covered bonds bought in the above-mentioned auction. The clean price of the bonds is predefined at 99,594. Expected settlement date is 20 June 2024. Covered bonds issued by Landsbankinn are rated A+ with stable outlook by S&P Global Ratings. Landsbankinn Capital Markets will manage the auction. For further information, please call +354 410 7330 or email verdbrefamidlun@landsbankinn.is.
Relay42 unlocks customer intelligence with a new insights and reporting module, powered by Amazon QuickSight11.6.2024 11:00:00 CEST | Press release
AMSTERDAM, June 11, 2024 (GLOBE NEWSWIRE) -- Relay42, a leading European Customer Data Platform (CDP), is leveraging Amazon QuickSight to power its new real-time customer intelligence, reporting, and dashboard module. Harnessing the breadth and quality of customer data, the new Insights module empowers marketing teams to dive deep into customer behaviors and gain invaluable insights into the performance of their marketing programs across all online, offline, paid, and owned marketing channels. Preview of the Relay42 Insights module, in pre-beta version Key capabilities of the Relay42 Insights module include: Deep insights into customer behaviors: With the Relay42 Insights module, marketers can ask unlimited questions about their data and gain a deeper understanding of how to serve their customers more effectively. Simplicity with AI-powered querying: Marketers can use artificial intelligence to query their data using natural language search, reducing the reliance on data scientists. Us
Metasphere Labs Announces X Spaces Event on the Topic of Green Bitcoin Mining and Sound Money for Sustainability11.6.2024 10:30:00 CEST | Press release
VANCOUVER, British Columbia, June 11, 2024 (GLOBE NEWSWIRE) -- Metasphere Labs Inc. (formerly Looking Glass Labs Ltd., "Metasphere Labs" or the "Company") (Cboe Canada: LABZ) (OTC: LABZF) (FRA: H1N) is thrilled to announce an engaging Twitter Spaces event on Green Bitcoin mining, energy markets, and sustainability on July 3, 2024 at 2 p.m. ET. Follow us on X at MetasphereLabs for updates and to join the event. What We'll Discuss Bitcoin Mining Basics: Understand the fundamentals of Bitcoin mining.Energy Market Dynamics: Explore how Bitcoin mining interacts with energy markets.Sustainable Innovations: Learn about our efforts to promote sustainability in Bitcoin mining.Sound Money: Discover how tamper-proof currency can enhance stability.Efficient Payment Rails: See how fast, neutral payment systems support humanitarian projects.Carbon Footprint: Compare Bitcoin's environmental impact with traditional banking. "We're excited to host this event and dive into the critical topics of Bitcoin