José Elías becomes Ezentis’ largest shareholder
- The businessman from Badalona will invest up to 29.9% of the company as a strategic and industrial partner.
- The agreement will contribute to the achievement of Ezentis' prospects until 2023.
- They will jointly develop business opportunities by exploiting synergies, especially in the renewable energy sector.
Grupo Ezentis has signed an investment agreement with Eléctrica Nuriel S.L.U. a company wholly owned by businessman José Elías, with the aim of becoming the Group's strategic and industrial partner.
José Elías' vision and business background will allow us to jointly develop business opportunities and take advantage of synergies, especially in the renewable energy sector. In addition, the incorporation of José Elías to the shareholding will contribute to strengthening Ezentis' financial situation with a view to the development of its Transformation Plan and business prospects until 2023. The company's objective is to increase its presence in Europe to 70%, strengthen the energy area and achieve revenues of 1,000 million euros.
The entry of the new investor will take place through an increase in Ezentis' share capital by means of cash contributions, which will be subscribed by Eléctrica Nuriel for 19.8 million euros. With this increase, Eléctrica Nuriel will obtain 16.7% of the resulting capital of Ezentis. In addition, in order to allow José Elías to increase his stake to a maximum of 29.9%, the board of directors has approved an issue of bonds convertible into shares.
The agreement also regulates the representation to which Eléctrica Nuriel will be entitled on the board of directors of the company and on the corresponding committees after the transaction, up to three seats on the board of directors of Ezentis.
According to José Elías, "I see in Ezentis an unprecedented opportunity to contribute to the transformation of society through the implementation of renewable energies and 5G".
"We are grateful for the confidence of an entrepreneur like José Elías and we are very excited to begin this new phase at Ezentis," said Fernando González, CEO of Ezentis. "The entry of José Elías gives us the strength to make Ezentis a leading reference in the deployment of infrastructure, operation and maintenance of networks in the telecommunications and energy sectors, creating value for our shareholders.
About Eléctrica Nuriel
Eléctrica Nuriel is a holding company belonging to the Excelsior Times Group, a business group wholly owned by José Elías Navarro. The main investee of Eléctrica Nuriel is Audax Renovables, S.A.
José Elías is the chairman and main shareholder of Audax Renovables.
Alma mater of the Audax Group, founder of several companies in the energy sector and pioneer in the deregulated electricity market.