What?!
'Christ! This is the full title, reader(s) -'
[Press release] - The consortium comprising of Caisse des Dépôts and Vauban Infrastructure Partners announces the closing of the acquisition of Coriance
We don't need the "press release" bit, Voice.
'Don't worry about it.'
I'm not worried about it.
'Anyway -'
Hello,
Please find attached the press release regarding the closing of the acquisition of Coriance by the consortium Vauban Infrastructure Partners and Caisse des Dépôts.
'Great! Let's hear more!'
The consortium formed by Vauban Infrastructure Partners through its dedicated entity Venus Luxco ("Vauban"), with a 50.1% stake, and Caisse des Dépôts ("CDC"), with a 49.9% stake, has announced the completion of its acquisition of the entire share capital of Coriance.
This acquisition project is fully in line with the strategy of Vauban Infrastructure Partners and CDC to invest with a long-term horizon in a strategic sector that is a priority for the energy transition and consequently, for local authorities:
Coriance is a recognized partner of local authorities in their initiatives to decarbonize the energy consumption of buildings, with a high level of performance in terms of reliability and safety in the in the way installations are operated;
Coriance is the -
That's enough, Voice.
'Oh, I was getting into that!'
Shut up.
Where's Lucky?
'Lucky? Lucky? Come on, son! We need you!'
Ha! We don't need him.
Don't hesitate to contact me for any further information.
'Eh?!'
That's not Lucky.
'Lucky? Where are you???'
Paris October 19th 2023 the consortium comprising of Caisse des Dépôts and Vauban Infrastructure Partners announces the closing of the acquisition of Coriance the consortium formed by Vauban Infrastructure Partners through its dedicated entity Venus Luxco Vaubanwith a 50 1% stake and Caisse des Dépôts CDC with a 49 9% stake has announced the completion of its acquisition of the entire share capital of Coriance founded in 1998 Coriance builds! develops and operates urban heating and cooling networks supplied locally and predominantly by renewable energies such as geothermal! and biomass and recovered energy RE&R to support local authorities and industrial players in their energy transition with a portfolio! of approximately 40 networks in France Coriance is the 3rd! largest player in the French market with a thermal! production capacity of over 1 8 GW the company supplies heat to the equivalent of around 250 000 homes in France! heating and cooling networks are set for strong growth in the coming years they are in line with French and European public policy objectives represent a powerful lever! for local initiatives since they support the decarbonization of heat and aim to achieve carbon neutrality by 2050 and supply locally produced energy at stable and attractive end user pricing this acquisition project is fully in line with the strategy of Vauban Infrastructure Partners and CDC to invest with a long term horizon in a strategic sector that is a priority for the energy transition and consequently for local authorities Coriance is a recognized partner of local authorities in their initiatives to decarbonize the energy consumption of buildings with a high level of performance in terms of reliability and safety in the in the way installations are operated Coriance is the most advanced player in the market in terms of renewable use and recovered energies which represented almost 70% of its energy mix in 2022! backed by a seasoned! & dynamic management team and employees with recognized skills Coriance is an ideal platform for taking part in the strong growth expected in its sector by providing Coriance with long term shareholder stability and a strong local presence Vauban and CDC will accelerate the groups development in all of its markets and support its ambitious investment program in response to the expectations of the industry & local authorities Eric! Lombard Chief Executive Officer of CDC said our acquisition of a stake in Coriance! a major player in heating and cooling networks in France enables Caisse des Dépôts to support the French governments ambition to achieve carbon neutrality and to fully meet our strategic objectives accelerating ecological transformation supporting national energy sovereignty and strengthening social & territorial cohesion Gwenola! Chambon et Mounir Corm! founding partners of Vauban Infrastructure Partners commented Vauban Infrastructure Partners has always been a major contributor to the transformations of our home infrastructure market like campus! plan France Très Haut Débit plan local mobility and parking and recycling Coriance is the capstone! of our decade long track record of investing in district heating across Europe and the United States alongside CDC our goal is to affirm Coriances role as a national champion to do so! we are fully committed to equipping the company with the resources needed to address its market growth and help transition the urban heating sector away from carbon heavy technologies! this transaction is subject to the usual regulatory consultations and authorizations and in particular the completion of procedures for informing and consulting employee representative bodies as well! as the granting of authorizations from the relevant competition authorities about Vauban Infrastructure Partners Vauban Infrastructure Partners is a leading infrastructure asset manager focused on the core infrastructure market headquartered in Paris with a subsidiary in Luxembourg it employs! 75 professionals the majority of whom have been working together for over a decade Vauban targets! predominantly European brownfield mid market assets pursuing a long term yield driven strategy matching the underlying nature of assets and long term commitment to all stakeholders interests through a strong focus on creating sustainable value Vauban has raised over €8 4 billion across 7! funds in core! infrastructure from over 100 investors within 17
'Thanks, Lucky!'
Yeah, thanks, Lucky.
See ya guys
Hang on a minute! How much are they paying you for this?
Not a lot
But you enjoy the work, yeah?
Its all right I gotta earn a living you know
'No you don't! Not on the astral plane.'
Well okay but I like to keep busy Voice and I just like the way the words flow through me it reminds me of the old days with Sam
That's fair enough, I suppose.
See ya
'Bye!'
And ...
ENDS
ENDS
ENDS
