Spain. The merger between Audax EneríÃa and Audax Renovables has been concluded

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

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

The merger has the aim of synergistically and vertically uniting the specificities and skills of both companies, i.e. energy sales and production from renewable sources.

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

In this regard, one fact above all. 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 signing of agreements such as PPAs, Power Purchase Agreements, instruments capable of giving 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 management, a further way to provide continuity and continue with the results obtained in recent years from all points of view: commercial, financial and strategic.