Colruyt sells Parkwind to Japanese JERA for at least EUR 1.5 billion

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Virya Energy, of which Colruyt owns 59.9 percent, sells offshore wind power platform Parkwind. Colruyt's stock price skyrockets.

Colruyt has been suffering from a sinking stock price for several years. Just last week, it lost its place in the Bel20. The sale is now boosting the stock price now with an increase of more than 10 percent.

In the news: After deducting costs, Virya Energy would retain some 1.55 billion euros from the deal.

Virya is an energy holding company in which Colruyt is the largest shareholder. Parkwind is one of Virya's subsidiaries, and Belgium's largest offshore wind energy platform.

• The transaction, when completed, will lead to "a very significant, one-time positive impact in Colruyt Group's consolidated net income in fiscal year 2023/24," according to Colruyt.
• Virya Energy's book value in Colruyt Group's September 2022 consolidated figures was 434 million euros. Most of this was attributable to Parkwind.
• Colruyt had been on the stock market for several years. Since the beginning of this stock market week, the company has also lost its . This transaction does allow to enjoy a strong rise in the stock market.

JERA

JERA Green, subsidiary of JERA, is buying one hundred percent of Parkwind's shares.

• JERA (Japan's Energy for a New Era) is a Japanese company and was founded in 2015. It is an international energy player operating across the entire energy chain.
• It was founded after the Fukushima nuclear power plant disaster, when the operator was left in bad financial shape.
• The sale does not come as a complete surprise. in the summer of 2022, that they might step back from offshore wind turbines.