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Aquila European Renewables PLC shares fell on Monday as it said discussions with its preferred bidder are no longer exclusive after it lowered its offer. In June, the investor in European renewable energy assets, advised by Aquila Capital, said as part of its wind down it was engaged in three separate sales processes, including with the preferred bidder. The company said it received a revised offer from the preferred bidder, which reduced the number of assets they can acquire with their current funds and cut the indicated acquisition price. ‘The revised offer would mean a less material proportion of the portfolio would be sold and is expected to lead to a situation which is potentially prejudicial to the marketability of the balance of the portfolio,’ Aquila European Renewables said. Therefore, it said it has paused the sales process with the bidder, who is no longer in exclusivity. It said dialogue remains open with the bidder. The firm said it will explore the implications of the reduced offer and the alternatives available to it. ‘The revised offer and changes to the transaction perimeter by the preferred bidder were unfortunately received late in the process and had this not occurred the board would have been minded to proceed on the previously proposed terms,’ it noted. It said it will provide a further update on the sales process after the implications and alternatives have been explored. ‘The board is disappointed with this update to shareholders and together with our advisers, recognise the current challenging sales market environment with relatively low levels of liquidity and pressure on forecast power prices,’ said Chair Ian Nolan. ‘The board retains its current view on the resilience of the portfolio and its operational performance, as evidenced by the positive due diligence process undertaken to date. Our objective remains to seek a realisation of the portfolio, and we continue to work very hard to deliver on this objective for shareholders.’ Shares in Aquila European Renewables were down 2.9% at 32.42 pence in London on Monday morning. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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