Announced
Financials
Tags
Friendly
Single Bidder
Private Equity
Private
Pending
Domestic
Majority
Alternative Fuels
renewable energy
United States
Acquisition
Synopsis
Enviva Partners, a firm that manufactures processed biomass fuel, agreed to acquire Enviva Holdings, a portfolio of wood pellet production plants and marine export terminals, from Riverstone Holdings for $870m. “We are very excited about the highly accretive benefits that Enviva’s simplification transaction and conversion brings to our unitholders. By eliminating the IDRs, significantly reducing the cost of upcoming investments in fully contracted assets, and eliminating the barriers to institutional ownership that can result from a partnership’s tax structure, we believe we can dramatically reduce Enviva’s cost of capital and unlock significant value while simultaneously creating a sustainable structure for long-term value creation," John Keppler, Enviva Chairman and CEO.
© COPYRIGHT 2024 MERGERLINKS LIMITED.
ALL RIGHTS RESERVED.
15 BONHILL STREET, LONDON, EC2A 4DN, UNITED KINGDOM.