The Stedin Group submits request to its shareholders to contribute EUR 200 million of new capital

The Stedin Group announced today that the Executive Board, Supervisory Board and Shareholders’ Committee of Stedin Group have reached agreement to submit a request to its shareholders to contribute EUR 200mln of new capital in the form of preference shares.

Capitium advised the Shareholders’ Committee on all aspects of the proposed transaction. The Shareholders’ Committee represents the 44 shareholders of the company.

Stedin Group consists of five different business units: grid operator Stedin, NetVerder and DNWG Group. DNWG Group is a grid operator consisting of two divisions: grid operator Enduris and infrastructure company DNWG. Stedin was spun out of the Eneco Group prior to Eneco’s privatisation and sale to a consortium led by Mitsubishi.

Capitium advised Hydreco on the sale of ATES projects to Ennatuurlijk

Hydreco and Ennatuurlijk have agreed the sale of 5 ATES projects serving 1400 households in the Dutch province of Noord-Brabant for an undisclosed sum. See press release.

Hydreco is a 100% subsidiary of Brabant Water, the water supply company. Ennatuurlijk supplies heat to 85.000 households and 1200 companies in the Netherlands. Ennatuurlijk’s shareholders are PGGM (80%) and Veolia (20%).

Mollie raises EUR 90mln in Series B led by TCV

Today Mollie announces the closing of 90 million Euro (US$100 million) in its Series B funding round, taking the total amount raised by the company to 115 million Euro. The round was led by TCV, one of the largest growth equity investors focused on technology. Mollie will use the funding to accelerate international expansion and invest in product and engineering: press release.

Capitium’s Joes Leopold is a board member and investor in Mollie.

Capitium advised Brabant Water on the sale of its geothermal activities to Engie

Capitium advised Brabant Water on the sale of its geothermal subsidiary Hydreco Geomec to Engie in an all-cash transaction.

Engie will contribute its Dutch geothermal activities to Hydreco Geomec, thereby becoming market leader. Hydreco Geomec will continue to operate under its own name.

Engie’s press release (in Dutch) can be found here and an article in Dutch financial daily Het Financieele Dagblad can be found here (paywall).

Brabant Water supplies drinking water to 2.5 million people and companies in the Dutch province of Noord-Brabant. It employs 800 people.

Engie is a listed company employing 160,000 globally of which 6,000 are based in the Netherlands, generating EUR 60.6 bln of revenues (2018).

Capitium advises the City of Rotterdam on the proposed sale of all shares in Eneco to a consortium led by Mitsubishi for a total equity value of EUR 4.1 billion

Capitium advises the City of Rotterdam on the proposed sale of all shares in Eneco to a consortium led by Mitsubishi for a total equity value of EUR 4.1 billion.

The Consortium has made an all-cash binding offer for all shares in Eneco. The offer has a value of EUR 4.1 billion, excluding net debt (the equity value). In addition, the current shareholders will receive a regular dividend over financial year 2019 in Q2 2020 or in any case prior to completion of the proposed transaction.


The shares in Eneco are held by 44 Dutch municipalities. Shareholders that jointly represent more than 95% of the share capital have already decided that they intend to sell their shares in Eneco. The offer of the Consortium explicitly extends to all shares, including the shares of shareholders that have not yet expressed an intention to sell their shares. The proposed transaction will be definitive if shareholders together holding at least 75% of the issued and outstanding share capital of Eneco decide to sell their shares.

The City of Rotterdam is Eneco’s largest shareholder and chairs the committee of shareholders. Capitium has advised the City of Rotterdam since 2016 just before Eneco demerged its distribution network into Stedin. Capitium provided Rotterdam with advise on the full range of topics concerning the privatisation and sale of the company.

 

Mollie raises €25 million in first-ever funding round to accelerate international growth

Mollie, a leading European online payment processor, has raised €25 million from a group of technology and payment entrepreneurs.

Based in Amsterdam, Mollie launched over a decade ago to offer affordable, simple and reliable online payments for companies of all sizes and now serves over 65,000 businesses in Europe through its internally developed, cloud-based platform. The company processes over €5bn payment volume annually and is growing rapidly.

Read more: https://www.mollie.com/en/news/post/series-a-announcement

Capitium’s Joes Leopold is an investor and board member at Mollie.