De Pardieu Brocas Maffei advises Orège, an innovative company specialized in municipal and industrial sludge conditioning, treatment and recovery solutions, on its capital increase through issuing new shares with preemptive rights for a maximum gross total of €49.2 million.
With this operation, Orege aims to strengthen its financial position in order to accelerate the commercial and industrial rampup that began in 2018.
The Rights Issue will reconstitute the Company’s net equity by capitalising a substantial proportion of the shareholder current account held by its majority shareholder, Eren Industries S.A. (“Eren”), for €33.92 million out of a total balance of €47.86 million as at 31 May 2019. With this capitalization, Eren is once again setting out its long-term commitment to the Company’s development and giving Orege the financial foundation needed to accelerate its development.