Groupe Casino, Tikehau Capital, and Bpifrance announced that they have entered into a put option agreement with Ardian, a global private investment firm, to acquire a majority stake in GreenYellow. The transaction is worth €1.4 billion and has an equity value of €1.1 billion along with Ardian, Groupe Casino, Bpifrance, and Tikehau Capital have been reinvested.
GreenYellow’s shareholders would continue to be involved in the company’s value creation through reinvestment of €165 million, similar to Groupe Casino. As part of the transaction, Groupe Casino will preserve a minority stake and continue to be a key business partner.
GreenYellow is a French pioneer in decentralized energy that serves customers in France and abroad in their energy transition. Since its inception within Groupe Casino in 2007, GreenYellow has become a major player in the energy transition in France and abroad. Their goal is to accelerate large corporations’ global low-carbon transition.
GreenYellow provides a comprehensive range of services to assist businesses in making the transition to greener and more efficient energy solutions. The company provides low-cost green energy and assists businesses in optimizing their energy consumption.
The planned transaction is being reviewed by the relevant employee representative bodies. It is scheduled to be completed in the fourth quarter of 2022, subject to customary regulatory approvals (merger control and foreign investment control).
Jean-Charles Naouri, Chairman and CEO of Groupe Casino said that the agreement showed the GreenYellow achievement as a significant company that produces photovoltaic and energy efficiency in France.
“This agreement testifies to the success of GreenYellow which, thanks to the ability of its managers to imagine, develop and grow a unique concept, has become a major player in photovoltaic production and energy efficiency in France and abroad,” Naouri said.
“As the energy sector is at the heart of the economic strategy of the States and as the Casino group believes in the future development capabilities of GreenYellow, we have decided to remain involved in the value creation of the company on a long-term basis alongside Ardian Infrastructure, Tikehau Capital and Bpifrance.”
Tikehau Capital and Bpifrance invested €150 million in GreenYellow in 2018 to support its growth. GreenYellow has experienced rapid growth and now operates in more than 15 countries across four continents.
Ardian has extensive experience in the renewable energy sector, having installed more than 7.5 GW globally, as well as in new technologies such as battery storage and green hydrogen. It will use its expert knowledge to continue providing GreenYellow and its management team with the resources they need to support its ambitious growth plans.
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