EQT completes tender offer on Waga Energy
· Following settlement-delivery, EQT will hold, directly and by assimilation, 22,777,033 Waga Energy shares representing 85.88% of its share capital and 85.82% of its voting rights
EQT today announced that EQT Transition Infrastructure (“EQT”), through the investment vehicle Box BidCo S.A.S., has increased its majority shareholding in Waga Energy (EPA: WAGA or the “Company”) following completion of its tender offer on the latter.
On 24 November2025, Box BidCo S.A.S. announced the opening of a mandatory simplified cash tender offer for all remaining outstanding shares of Waga Energy at a price of EUR 21.55per share, which will be increased by an earn-out amount of up to EUR 2.15 per share based on the aggregate amount of U.S. federal investment tax credits that could be monetized by Waga Energy by 30 June 2028 in connection with certain of its projects developed in the U.S. (the “Offer”).
After the closing of the Offer on 12 December 2025, Box BidCo S.A.S. holds, directly and by assimilation, 22,777,033 shares and voting rights of Waga Energy, representing 85.88% of the share capital and 85.82% of voting rights of the Company.
Asís Echániz, Partner and Head of EQT Transition Infrastructure Europe, said: “Waga Energy continues to demonstrate strong momentum in a fast-growing segment of the energy transition, having built a differentiated platform in renewable gas through proprietary technology and an industrial approach. We are pleased to enter into this new chapter alongside the team to support the Company’s industrial model at scale, in close partnership with all its stakeholders.”
Settlement-delivery of the Offer is expected to occur on 19 December 2025.
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