Bagnall Energy to acquire Downing Renewables & Infrastructure Trust for £175m.

Bagnall Energy, a UK-based renewable energy investor, agreed to acquire Downing Renewables & Infrastructure Trust, a UK-listed investment trust focused on renewable infrastructure assets, for £175m. "DORE has consistently delivered on its investment strategy resulting in a strong NAV and dividend performance since IPO. Despite this, and the proactive steps taken by the Board to narrow its share price discount in recent years, the sustained horizon of economic and macro uncertainty has weighed on the share price, which has also limited the opportunities for further raising of new capital, and which may stretch into the mid to long-term. The Board of DORE considers the certainty of the offer by Bidco, at a significant premium to the closing share price, to be fair and in the best interest of shareholders," Hugh Little, DORE Chairman.