Renta 4 | The Constitutional Court has rejected the appeal filed by the State Attorney’s Office against the ruling handed down in February 2023 by the Audiencia Nacional (Supreme Court), which upheld the legality of the extension of the concession for Ence’s biofactory in Pontevedra.
In the absence of knowing the decision of this Court on the other appeal filed against this judgment, by the City of Pontevedra, the Company considers that this ruling of the Constitutional Court clears up the doubts about the future of the plant.
Assessment: Eminently positive news that ratifies last year’s Supreme Court ruling, declaring “without any value or effect” the nullity of the extension of the concession that the Audiencia Nacional ruled in its day.
Although it should be partially discounted and the Company communicated it during its results conference with the market open, we expect a positive impact on the share price.
OVERWEIGHT with P.O. €4.30/share.
