A month after losing a formal auction for Tilt Renewables to Australia’s Powering Australian Renewables, Caisse de dépot et placement du Québec (CDPQ) is back in the running.
In March, Australia’s Powering Australian Renewables — a consortium consisting of AGL Energy and Queensland Investment Corp. — agreed to acquire Tilt Renewables in a $2.10 billion share offer. As part of the deal, Mercury NZ, which owns 19.9 percent of Tilt, also said it would acquire Tilt’s New Zealand wind farms.
In anticipation of the higher offer from CDPQ, Radio New Zealand reports that Tilt paused trading of its shares until April 19.
CDPQ has submitted the new offer and Tilt’s board is considering the bid, according to the Australian Financial Review. If the offer is deemed superior, Australia’s Powering Australian Renewables and Mercury NZ would have to decide whether
