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Announced

Greencoat Renewables to acquire a 50% stake in Borkum Riffgrund 1 from Kirkbi and William Demant for €350m.

Financials

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Transaction Value£293m
Consideration TypeCash
Capital Owned-
Capital Bid For50%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Alternative Electricity

Pending

Cross Border

Infrastructure

Private

offshore wind farm

Single Bidder

Germany

Private Equity

Friendly

Acquisition

Majority

Synopsis

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Greencoat Renewables, an investor in euro-denominated renewable energy infrastructure assets, agreed to acquire a 50% stake in Borkum Riffgrund 1 wind farm from Kirkbi, Kirk Kristiansen family's private holding and investment company, and William Demant, an evergreen investment company, for €350m. "We are very pleased to enter the continental offshore wind market with a significant strategic stake in Borkum Riffgrund 1. This acquisition will contribute to Greencoat Renewables' strategy to build a diversified portfolio of high-quality renewable electricity generation assets supported by strong contracted cash-flows and will support the Company's further expansion into continental Europe," Bertrand Gautier, Greencoat Renewables Investment Manager.

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