Announced
Completed
Financials
Tags
Public
wind and solar projects
Friendly
Alternative Electricity
Completed
Spain
Acquisition
Tender Offer
Private Equity
Single Bidder
Synopsis
TerraForm Power, an owner and operator of 2.6k megawatts of renewable power assets, launched a voluntary tender offer to acquire 100% of the outstanding shares of Saeta Yield, a leading, publicly-listed European owner and operator of wind and solar assets, located primarily in Spain. TerraForm Power’s offer is €12.2 in cash per share of Saeta. TerraForm Power successfully acquired all of the remaining Saeta shares in the tender offer, the total purchase price was c.$1.2bn. “With the Saeta acquisition, we are excited to significantly grow our portfolio of high-quality wind and solar assets and expand our geographic footprint with a scale position in Western Europe. With Brookfield as our sponsor, we believe this transaction demonstrates our ability to originate acquisitions of high-quality assets on a value basis that are highly accretive to our shareholders.” John Stinebaugh, Chief Executive Officer of TerraForm Power.
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