The merger is completed

This merger gives rise to a large energy group that will be called Audax Renovables, which operates in 8 countries, with a staff of more than 500 employees and that generates a turnover of more than 1,200 million euros.

Both companies have completed their merger after a process that began on June 29 when the boards of directors of Audax Renovables, SA and Audax Energía, SA formulated the common project of merger by absorption of Audax Renovables, SA as the absorbing company and Audax Energía, SA as absorbed company.

The union of both companies was unanimously approved by the shareholders attending the Extraordinary General Meeting of Shareholders of Audax Renovables, held on November 23, 2018. Audax Renovables, which is listed on the continuous market, plans to continue growing thanks to synergies of the vertical integration of renewable energy generation activities, developed by Audax Renovables, and of energy marketing activities, developed by Audax Energía. This merger will boost the trajectory of the Audax Renovables Group, whose aspirations are to consolidate and grow in all business lines, both nationally and internationally.

The solid financial position of the resulting company will facilitate access to financing to undertake new projects, especially in the field of renewable energy generation. The objective of Audax Renovables is to continue closing new projects in the field of renewable energies, such as new PPAs (Power Purchase Agreements), which will give it an advantageous position regarding the prices of the energy pool and will consolidate and strengthen its international expansion.

Audax Renovables will continue to be led by the same management team that has allowed both Audax Energía and Audax Renovables to complete the integration as well as great evolution and results that support their management. Audax Renovables has a very committed and professional team that works daily to overcome great challenges and reward the trust of its shareholders with dividends in the shortest possible time.

The good results obtained by Audax Renovables have meant that the share price (ADX.MC) has reached its maximum value this year since October 2008 and has achieved that the value traded by the market is much higher than the average of recent years. .

The group faces this new stage of growth with enthusiasm, with the aim of marketing and generating renewable energy in all the countries where it is present and continuing its international expansion.