Ellomay Capital Ltd (ELLO) Announces Conditional Early Redemption of Series A Debentures

Ellomay Capital Ltd. (NYSE: ELLO) , a renewable energy and power generator and developer of renewable energy and power projects in Europe and Israel, today announced that it provided a conditional notice of redemption to the holders of its Series A Debentures, due 2023 (the "Early Redemption").

The Company is currently in advanced stages of negotiating the sale of its Italian PV portfolio to a third party in consideration for approximately €39 million (an amount consisting of a consideration in the amount of approximately €41 million, net of withdrawals made by the Company from the Italian portfolio companies during 2019 in the amount of approximately €2 million), subject to adjustments. The Early Redemption is subject to the execution and consummation of the sale of the Company's Italian PV portfolio. The execution and consummation of definitive agreements for the sale of the Company's Italian PV portfolio and the consideration are subject to the completion of the negotiations to the satisfaction of the Company, and to the receipt of third party consents including banks. There can be no assurance that the negotiations will materialize or whether a definitive agreement will be executed and consummated and under which terms.

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