Antin Infrastructure Partners is buying renewable energy firm Opdenergy in an €866m take-private deal.
Antin’s fifth infrastructure fund is offering shareholders of the Spanish stock exchange-listed company €5.85 for each share held. The price per share represents a 23% premium to Opdenergy’s initial public offering price in July last year.
Opdenergy is an independent renewable energy developer and producer with a diversified portfolio and projects, mainly in Spain, the US, Chile, Italy and Mexico. The company has 904MW assets in operation and 951MW under construction.
Antin said it plans to contribute to Opdenergy’s continued development and growth by providing capital and expertise to support the company´s growth plans.
Stéphane Ifker, senior partner at Antin, said: “Antin has a strong track record in driving growth at energy companies, with support from our team of energy specialists and their extensive in-depth experience in the sector.
“Opdenergy is very complementary with our other platforms and further demonstrates our commitment to energy transition in Europe and North America.”
Francisco Cabeza, partner at Antin, said: “The announced investment in Opdenergy reflects our assessment of the company’s present and future value and our confidence in its potential for growth in Spain and abroad.
“We are honoured to continue in this journey alongside Opdenergy and its management team, in particular its CEO, Luis Cid Suárez.”
Antin intends to delist Opdenergy from the Spanish stock exchange following the closing of the transaction with an intention to maintain Opdenergy’s headquarters in Spain.
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