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.
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%).
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 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, 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.
Capitium’s Joes Leopold is appointed by the Enterprise Chamber of the Amsterdam Court of Appeal replacing the existing Supervisory Board in order to resolve a dispute between shareholders at Eindhoven based lighting manufacturer Nordeon and to secure financing for the company.
Techcrunch: Framer, the Amsterdam-based startup behind interactive design platform Framer X, has raised $24 million in Series B investment. The round is led by European VC firm Atomico, with participation from Accel, and AngelList.