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New Deal


Announced

AXA IM and Crédit Agricole Assurances to acquire a 50% stake in Hornsea 2 from Ørsted.

Financials

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Transaction Value-
Consideration TypeCash
Capital Owned-
Capital Bid For50%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Cross Border

offshore wind farm

United Kingdom

Infrastructure

Renewable Energy Equipment

Majority

Pending

Private Equity

Friendly

Acquisition

Private

Synopsis

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AXA IM, an investment management company, and Crédit Agricole Assurances, a provider of life insurance and death protection services, agreed to acquire a 50% stake in Hornsea 2, an offshore wind farm in the UK, from Ørsted, a provider of utility services. Financial terms were not disclosed. “We’re delighted to partner with AXA IM Alts and Crédit Agricole Assurances, two world-leading financial institutions, which are committed to accelerate the transition to a carbon-neutral economy in line with the Paris Agreement – thereby supporting the urgently needed shift from fossil-based to renewable energy sources," Martin Neubert, Ørsted Chief Commercial Officer and Deputy CEO.

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