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EQT lobs $1.5b takeover offer at Swedish renewable supplier OX2
Transactions - MAY 14, 2024

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EQT lobs $1.5b takeover offer at Swedish renewable supplier OX2

by Kali Persall

EQT Infrastructure VI, a value-added infrastructure fund managed by EQT, has launched a public takeover offer to the shareholders of Swedish green-energy supplier OX2.

The transaction would see EQT, through Otello BidCo, buy OX2 for SEK 60 ($5.50) per share in cash, which totals around SEK 16.4 billion ($1.5 billion). EQT said this is approximately 43.4 percent above the renewable developer’s closing price on May 10.

OX2 has 20 years of experience in developing, selling and constructing renewable-energy projects. The company operates in large-scale energy solutions across several technologies, including onshore wind, solar, energy storage and hydrogen.

Otello BidCo believes OX2 should, on its own, pursue a transition from a pure developer to an integrated renewables developer and asset owner. This process could take several years to implement and would require significant investments. EQT plans to provide additional investment in OX2’s pipeline while using i

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