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Aquila Energy Efficiency Trust PLC noted that Commerzbank will acquire a 74.9% stake in its Investment Adviser, Aquila Capital Investmentgesellschaft mbH, as part of a strategic partnership. The Aquila Group will retain its remaining shareholding in Aquila Capital, and the existing management and fund management teams for the Company will remain unchanged. This transaction is subject to regulatory approvals and is expected to close in the second quarter of 2024.
| Date | 19 Jan 2024 |
| Time | 14:00:10 |
| Category | Corporate updates |
| ID | 3425A |
19 January 2024
Aquila Energy Efficiency Trust PLC
(the "Company")
Investment Adviser Update
Aquila Energy Efficiency Trust PLC notes the announcement that the Company's Investment Adviser, Aquila Capital Investmentgesellschaft mbH ("Aquila Capital") and Commerzbank have entered into a strategic partnership aimed at significantly accelerating Aquila Capital's growth and developing the Investment Adviser into one of the leading asset managers for sustainable investment strategies in Europe. As part of this partnership, Commerzbank will acquire a 74.9% stake in the Investment Adviser with the Aquila Group remaining permanently engaged as a shareholder with its remaining shareholding. The partnership ensures the managerial independence of the Company's Investment Adviser as it will remain autonomous in terms of operations, investment decisions, product development and brand representation. The existing management and fund management teams responsible for the Company will remain unchanged.
The transaction is subject to the required regulatory approvals and is expected to close in the second quarter 2024.
For further information, please contact:
|
Aquila Capital (Investment Adviser)
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Via Buchanan |
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Buchanan (Financial PR) Charles Ryland George Beale
|
020 7466 5000 |
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Stifel Nicolaus Europe Limited (Sole Financial Adviser and Sole Corporate Broker) Edward Gibson-Watt Mark Young Rajpal Padam Madison Kominski |
020 7710 7600 |
NOTES:
The Company's investment objective is to generate attractive returns, principally in the form of income distributions, by investing in a diversified portfolio of energy efficiency investments with private and public sector counterparties across Europe. Energy efficiency, by definition, refers to measures whose implementation results in the same or an improved performance with reduced energy consumption. These investments seek to reduce primary energy consumption and avoid CO₂ emissions towards national and international Net Zero ambitions. In addition, in most cases, these projects also deliver economic savings and other benefits to the Company's counterparties, including improved air quality. The Company targets a total shareholder return of 7.5 per cent. to 9.5 per cent. per annum (net of fees and expenses) through its investments and the reinvestment of excess cash flows, asset management initiatives and portfolio leverage.
The Company is listed on the premium segment of the Official List of the UK Financial Conduct Authority and its Ordinary Shares began trading on the Main Market of the London Stock Exchange on 2 June 2021.
The Company's LEI is 213800AJ3TY3OJCQQC53
Further information on the Company can be found on its website at: https://www.aquila-energy-efficiency-trust.com