IR-News & Press

 
2017-09-29

3U HOLDING AG enters into an option agreement for the sale of a wind farm project

Disclosure of an inside information acc. to Article 17 MAR

  • Options agreement for the sale of Windpark Lüdersdorf II reached
  • Green City Energy AG is again a partner in the transaction
  • Option can be exercised at the earliest in May 2018

Marburg, September 29, 2017 - Following the approval of the bodies of 3U ENERGY AG and 3U HOLDING AG (ISIN DE0005167902) to conclude an option agreement and thus the sale of 100% of the shares in Märkische Windkraft 110 GmbH & Co. KG (Windpark Lüdersdorf II) to Green City Energy AG, today the Management Board and the management of the companies involved have concluded this agreement.

The Windpark Lüdersdorf II consists of 2 wind turbines, each with a rated output of 3.3 MW, a hub height of 119 m and a rotor diameter of 112 m and was connected to the power grid and put into operation at the end of May 2016.

With the option agreement, the partnership with Green City Energy AG, purchaser of Windpark Schlenzer, was further deepened as announced. The parties have opted for an option contract to await the decision in a pending appeal proceedings aimed at limiting the operating license. It is to be assumed that this appeal will be decided by the end of the option exercise period.

The option can be exercised by the purchaser during the period from May 1, 2018 to June 30, 2018. If the appeal has not yet been decided upon during this period, the purchaser shall have a further exercise period in the period from September 1, 2018 to September 30, 2018.

The option agreement provides for the effective date for the transfer of the shares on July 1, 2018. From the transaction, the 3U Group would achieve a one-time EBITDA contribution of approximately EUR 1.4 million to 2.0 million for 2018.