Metlen Energy & Metals PLC said on Friday it will spin off its concessions and public-private partnership (PPP) business into a new unit via a demerger valued at €105.1 million.
The transaction will transfer all assets, liabilities, rights and obligations tied to concession and PPP projects from Metlen Energy & Metals Single-Member S.A. to its wholly-owned subsidiary M Concessions Single-Member S.A. The scope includes participations in project companies, contractual rights, tender participations, personnel and related tangible, intangible and financial assets.
M Concessions will increase its share capital by €105,064,218 through the issuance of 105,064,218 new ordinary registered shares at a nominal value of €1.00 each. All new shares will be allocated to Metlen Energy & Metals Single-Member S.A. The valuation of the transferred assets will be prepared by Compass Certified Auditors and Business Consultants P.C.
The demerger is structured under Greek Law 4601/2019 and tax provisions of Law 5162/2024. Interim transactions related to the sector between January 1, 2026, and the demerger’s completion will be accounted for under Metlen Energy & Metals Single-Member S.A. The accounting statement date is set for December 31, 2025.
Metlen Energy & Metals’ board approved the draft demerger agreement on August 7, and the agreement was registered with Greece’s General Commercial Registry on Sunday. Shareholder approval is anticipated by September 30, 2026.
