An ambitious investment plan 3 billion euros aimed at transforming the group and its entry into energy and the natural gas.
The decision on a capital injection and a €3 billion investment shift marks a pivotal turning point for the Aktor Group, as it seeks to transform itself from a traditional construction player into a multifaceted energy and infrastructure platform with a presence in critical sectors of the economy in Southeast Europe.
The Aktor Group is moving forward with capital strengthening through a capital increase and a bond issuance totaling 950 million euros is being carried out by the Aktor Group.
The plan
Specifically, a capital increase of 650 million is being planned, with Goldman Sachs, UBS, and Bank of America. It will be carried out through a rights offering to existing shareholders, while two of the three major shareholders, Winex and Castellano, have committed to participating with up to 300 million euros.
Existing shareholders will have preemptive rights to participate in the capital increase if they hold up to 3% of the shares on the day of the General Meeting.
At the same time, the Group is issuing a €300 million bond underwritten by UBS, which will underwrite and subsequently distribute it. Market sources suggest this is the first step in a broader plan that will culminate in an equity stake in the Aktor Group.
The Group’s capital injection is intended to finance a major investment in energy infrastructure. The investment is linked to the Group’s plan to boost the trade of U.S. LNG via the Vertical Corridor, a project of growing geostrategic importance for the region.
In this context, the Group has convened a General Meeting on Thursday, July 16, to obtain the necessary shareholder approvals for its capital increase.
The company’s announcement
Raising Capital through a Share Capital Increase to Finance the Group’s New Strategic Plan
▪ The Aktor Group of Companies (AKTOR S.A.) announces its new strategic plan (the “New Strategy”), which aims to transform the Group into a broader, diversified infrastructure and energy platform with synergies across all of Southeastern Europe, by leveraging its established construction business and expanding further into long-term, contract-driven business sectors. The New Strategy includes an investment program totaling approximately €3 billion in the sectors of concessions, renewable energy, and LNG (LNG), which will be partially financed through the issuance and offering of shares to raise capital (gross proceeds) of €650 million (the “Share Capital Increase”).
▪ Medium-term targets: Revenues of €2.3 billion – €2.8 billion, Adjusted EBITDA of €375 million – €425 million, and net leverage ranging from 3.8x to 4.2x. Long-term targets: Revenue of €4.5 billion to €5.0 billion, Adjusted EBITDA of €600 million to €700 million, and net leverage ranging from 3.5x to 4.0x.
