Spain. Merger between Audax EneríÃa and Audax Renovables completed

Audax Energía and Audax Renovables, a company listed on the Madrid Stock Exchange, have recently completed the merger process that began on June 29 and was unanimously ratified by the Extraordinary Shareholders' Meeting on November 23, 2018.

Technically, it was the absorption of the first (Audax Energía) by the second (Audax Renovables), from which the new energy group also took its name.

The merger aims to synergistically and vertically unite the specificities and skills of both companies, namely energy sales and production from renewable sources.

A union that will not only lead to the provision of an even more integrated, complete and qualified service, from generation to marketing, but that will also allow the group's aspirations to grow nationally and internationally and to strengthen it at an industrial and financial level.

In this regard, one figure stands out above all others. Audax Renovables was the company that, in 2018, recorded the highest growth rate on the Madrid Stock Exchange: +211%, with a capitalization of 191 million euros.

Furthermore, the solid financial position that the new entity can boast will simplify access to credit for the development of new projects, especially in the field of energy generation from renewable sources. This will also happen through the stipulation of agreements such as PPAs, Power Purchase Agreements, instruments capable of providing that competitive advantage that will lead Audax Renovables to strengthen its position on the market.

Finally, the new company will be led by the same board of directors, a further way to provide continuity and continue with the results achieved in recent years from all points of view: commercial, financial and strategic.