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Global Bioenergies is looking for a buyer
Globenewswire· 2025-06-03 15:40
Core Viewpoint - Global Bioenergies is officially seeking buyers due to an inability to secure strategic investors to continue its operations, leading to a pre-pack sale process as part of a conciliation procedure [2][4][6]. Financial Position - The company currently has a gross cash position of 3.0 million euros and carries a bank debt of 13.1 million euros as of December 31, 2024, which remains fully on the balance sheet due to deferred repayments [3]. - The proceeds from the anticipated sale are unlikely to cover shareholder losses, indicating a total loss for existing shareholders [7]. Business Strategy and Challenges - The company shifted its focus to an R&D collaboration project with a major international industrial player to develop sustainable aviation fuels after failing to finance its first plant project [5]. - Despite engaging with numerous potential investors, no interest has been shown in acquiring a stake in the company, attributed to the current geopolitical climate and adverse investment conditions for climate solutions [6]. Sale Process - The pre-pack sale process allows potential buyers to acquire all or part of the company's business and assets, with a deadline for offers set for July 9, 2025 [4][8]. - The Commercial Court of Evry will evaluate the offers, with a potential closing of the sale expected in September or October 2025 [8]. Company Overview - Global Bioenergies specializes in producing sustainable aviation fuels (SAF) and e-SAF from renewable resources, contributing to the decarbonization of air transport [9]. - The company is listed on Euronext Growth in Paris, with L'Oréal as its largest shareholder, holding a 13.5% stake [9].
General Meeting of 15 May 2025
Globenewswire· 2025-05-16 05:30
Company Overview - Global Bioenergies is focused on combating global warming by developing a unique process to produce Sustainable Aviation Fuel (SAF) and e-SAF from renewable resources, addressing the decarbonization challenges in air transport [3] - The company's technology is one of the few solutions certified by ASTM, ensuring compliance with industry standards [3] - L'Oréal is the largest shareholder of Global Bioenergies, holding a 13.5% stake in the company [3] Recent Developments - The term of office for Mrs. Corinne Granger, Chairwoman of the Board of Directors, has expired, and her renewal was not put to a shareholder vote [2] - Mr. Marc Delcourt, who is also the Chief Executive Officer, has been appointed as the new Chairman of the Board of Directors following the Annual General Meeting [2]