Alternus Sheds $100M Of Debt And Payables, And Payables Related To Solis Activities And Will Improve Shareholders Equity By ~$45M From Disposal Of Certain Subsidiaries
Portfolio Pulse from Benzinga Newsdesk
Alternus Clean Energy, Inc. (NASDAQ:ALCE) has sold its subsidiary Solis Bond Company DAC, along with its Romanian subsidiaries, to Solis Trustee Special Vehicle Limited. This transaction removes $100 million in debt and payables from Alternus' balance sheet and improves shareholder equity by $45 million. Solis accounted for 98% of Alternus' revenues for the first half of 2024.
October 08, 2024 | 12:37 pm
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
Alternus Clean Energy has sold its subsidiary Solis Bond Company, significantly reducing its debt by $100 million and improving shareholder equity by $45 million. However, Solis accounted for 98% of the company's revenues for the first half of 2024, indicating a major shift in the company's revenue structure.
The sale of Solis Bond Company significantly reduces Alternus' debt and improves equity, which is positive for the balance sheet. However, since Solis accounted for 98% of revenues, this raises concerns about future revenue streams, balancing the positive impact on debt and equity.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100