On September twenty eighth, 2022, Kvalitena AB (publ), Reg. No. 556527-3314, an organization included and registered in Sweden (“Kvalitena”), entered right into a Share Purchase Agreement with automobiles managed by the Starboard group (“Starboard”) in which Kvalitena offered roughly 10% (ten %) of the shares issued by Maha Energy AB (publ), Reg. No. 559018-9543, a public restricted legal responsibility firm included beneath the legal guidelines of Sweden (“Company”), to Starboard.
Starboard is a Brazilian funding administration agency with places of work in São Paulo, Rio de Janeiro, and Madrid. Its in depth expertise and credibility with market individuals in the Brazilian area permit Starboard to search out distinctive funding alternatives and supply options to extremely complicated conditions. Starboard’s experience has enabled the event of a profitable technique in power and oil and gasoline belongings, comparable to 3R Petroleum Óleo e Gás S.A. (a publicly held firm in Brazil) and Gemini Energy S.A.
Starboard has a partnership with Apollo Global Management, a number one international various funding supervisor, with Apollo holding a minority stake in Starboard.
Through the conclusion of the transaction, Starboard would be the largest shareholder of the Company and can act, collectively with Kvalitena and different stakeholders, in the implementation of a method to create worth for the Company.
Paulo Thiago Mendonça, Managing Director of the Starboard group, acknowledged, “Starboard is confident in the quality of Maha’s assets and intends to ramp up production of cash flow-oriented assets. Starboard will pursue the creation of an energy platform focused on dividend generation and value creation for the shareholders”.
Seth Lieberman, Chairman of Kvalitena stated “We are extremely pleased to have Starboard join Kvalitena as a significant Maha shareholder. Starboard has an excellent track record of delivering on production targets, generating cash flow and creating & delivering value to shareholders”.