Help Desk -
9958816305, 9810335381

UAC Energy Secures Material Interest of 20% in Infigen Energy

Power News - Published on Tue, 04 Aug 2020

Image Source: UAC Energy Infigen Energy
UAC Energy Holdings, an investment holding company owned by the AC Energy Group and the UPC Renewables Group, today announced that it has increased its interest in Infigen Energy to 20.00%. This brings the investment phase of UAC in Infigen to a close after nearly three months of security purchases, as it is now limited by Australian takeover rules to an ownership stake of 20% at this time.

UAC’s takeover offer for Infigen closed last Friday, 24 July 2020. UAC was entitled to subsequently increase its stake via on-market purchases up to a level of 20%. At the close of UAC’s takeover offer, UAC held a relevant interest in approximately 13.8% of the stapled securities of Infigen. On 28 and 29 July 2020, UAC acquired on-market an additional 6.2% of the outstanding securities to increase its relevant interest in Infigen to 20%. Following the close of UAC’s takeover offer, Iberdrola is the sole remaining bidder for the balance of Infigen securities at an offer price of A$0.92 per security.

UAC’s total investment in Infigen is valued at approximately A$178 Million (US$128 Million), based on the current Iberdrola offer price. UAC’s aggregate relevant interest in Infigen was acquired at a weighted average price of approximately $0.793 per stapled security, which represents a nearly 14% discount to Iberdrola’s current offer price of A$0.92 per stapled security.

Source :

Posted By : Yogender Pancholi on Tue, 04 Aug 2020
Related News from Power segment