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Stena Adactum participates in rights issue increasing their ownership in Midsona
Stena Adactum has during August 2021 participated in a rights issue which has raised approx. 500MSEK in the company. Stena Adactum subscribed 38% of the rights issue equivalent of 190MSEK. In September Stena Adactum acquired further 320 000 B-shares. Stena Adactum continues to be the largest owner in Midsona with 25,2 percent of the capital and 29,2 percent of the votes.
Alecta acquires 20% in Stena Renewable and together with Stena Adactum, AMF and KLP they will continue the development of the company as a major green energy company
Stena Renewable is an energy company who during the past 15 years have established a strong position within wind power projects in southern Sweden. Today the company has one of the largest operational wind power portfolios in Sweden including a total of 315MW with another 600 MW under project which are complete or under construction. The company is expected to have 900 MW in operation by 2024 as well as having a continued fast annual growth. Since the start the company has invested 5 bn SEK and during the next three years another 5 bn SEK is expected to be invested in the completion of a number of windfarms in southern Sweden. The focus on southern Sweden means a substantial contribution with renewable energy in those areas where the energy challenges are the greatest during coming years as well as in the areas with the highest electricity prices.
Having Alecta as a partner will bring an additional financial and reputable owner who will ensure the company’s future growth and add to the energy transformation which is now happening at great speed. After the acquisition the company will be owned 30% by AMF and KLP respectively and 20% by Stena Adactum and Alecta respectively. AMF and KLP came in as owners during 2018.
“By Alecta coming into the company we now have three of the Nordics leading institutional investors as partners who share our long-term view to build a large green energy company with focus on sustainability. This will ensure the company’s continued fast expansion during a phase which is even more capital consuming”, says Johan Wester, Senior Vice President Stena Adactum and Chairman of the Board Stena Renewable.
“Stena Renewable is a unique possibility for us to gain a strong position in a fast growing market, through a well positioned company by the side of like-minded partners. Next to indirect international investments these selective direct businesses like this one at home ground is completely in line with our strategy for infrastructure expected to grow as part of the portfolio”, says Johanna Strömsten, Portfolio Manager Alecta.
“After enduring project developments since 2006 we have during the past few years been in a fast growth phase where we are building a large scale, green and independent energy company with focus only focus on renewable electricity production. Alecta complements the current owners and add to ensure our continued growth journey”, says Peter Zachrisson, CEO Stena Renewable.
Newsec Infra have acted as financial adviser and Mannheimer Swartling as legal adviser for Stena Adactum and AMF in the transaction.