Concessions and PPPs spin-off marks new strategic move
METLEN has made a new strategic move by spinning off its concessions and public-private partnerships (PPPs) to create a standalone infrastructure business unit aimed at strengthening operational focus, efficiency and future growth.
Specifically, METLEN Energy & Metals announced that it will transfer its business activities, assets, liabilities, rights and commitments related to concession and PPP projects to its subsidiary, “M Concessions Single-Member S.A.”
The transfer includes stakes in project companies, contractual rights and obligations, interests in ongoing tender procedures, personnel, equipment, as well as all related tangible, intangible and financial assets and liabilities.
The group stressed that completion of the spin-off is subject to the legally required approvals by the shareholders’ general meeting, which is expected to take place by September 30, 2026, as well as all other necessary approvals.
Leveraging synergies
METLEN said the proposed demerger through the spin-off and transfer of the business will facilitate the gradual consolidation and integration of the group’s infrastructure activities under a single corporate structure.
This will allow for greater operational focus, the exploitation of synergies and significant economies of scale, enhanced financial flexibility, and the creation of a stronger standalone development business unit for the group’s Concessions and Public-Private Partnerships (PPPs) business.
All transactions relating to the Concessions and PPP business carried out between January 1, 2026 and completion of the spin-off will, for accounting and tax purposes, be deemed to have been carried out on behalf of the company, with any resulting profits or losses accruing exclusively to, or being borne exclusively by, the company.
Upon completion of the spin-off, M Concessions will become the universal successor to all transferred assets and liabilities, as reflected in the balance sheet of the transferred Concessions and PPP business as of December 31, 2025 and as subsequently adjusted through the completion date.
The share capital of the new company will be increased by the net book value of the transferred Concessions and PPP business, together with a cash contribution of 0.83 euros for rounding purposes, bringing the total increase to 105.064 million euros.
The capital increase will be implemented through the issuance of 105,064,218 new ordinary registered shares, with a nominal value of 1 euro each, all of which will be subscribed by the company.
Upon completion of the transaction, the group’s concessions and PPP activities will be consolidated under M Concessions.
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