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AC Energy Partnership Divests Stake in Australia’s Infigen Energy

Power News - Published on Tue, 15 Sep 2020

Image Source: AC Energy Infigen Energy
UAC Energy Holdings has accepted Iberdrola Group’s takeover offer in relation to its 20% interest in the stapled securities of Infigen Energy. UAC, majority-owned by AC Energy Inc and part of the Philippine-based Ayala Corporation, had acquired its stake over several months from April to July of this year after seeing an opportunity to invest in Infigen Energy, which is listed on the Australian Stock Exchange and has nearly 1,000MW of installed capacity. UAC completed its investment in Infigen Energy in July at an average price of approximately $0.794 per stapled security. Earlier today, UAC accepted into the takeover offer of Iberdrola, one of the world’s largest renewable energy companies, for all its securities at $0.92 per stapled security.

Iberdrola has continued to secure significant levels of acceptances and last week achieved a 75% ownership of the company, enabling it to move towards a delisting from the ASX.

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Posted By : Yogender Pancholi on Tue, 15 Sep 2020
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