Foresight Group has agreed to buy Harmony Energy Income Trust (HEIT), a UK utility-scale energy storage and renewable energy generation company, for £190.8m (€227m).
The real assets fund manager is proposing to offer HEIT shareholders 84p cash for each share they hold, a 29% premium over HEIT’s previous closing price on the London Stock Exchange.
HEIT said it views Foresight’s offer proposal as “delivers a superior outcome for shareholders” and would consider recommending it to HEIT shareholders if a formal offer is made.
UK investment trust HEIT invests in battery energy storage systems. Its portfolio features eight fully operational projects in Great Britain, with a combined capacity of 790.8MWh.
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