Iberdrola has effectively completed its takeover bid of Australia’s Infigen Energy two days before its offer deadline, according to several news reports.
In June, Iberdrola offered Infigen Energy A$840 million ($576 million) in a counter-takeover deal, besting a former offer of A$777 million ($533 million) by Filipino–Hong Kong joint venture UAC Energy Holdings consortium.
That new takeover bid represented A$0.86 ($0.59) per stapled security, which was a 7.5 percent premium to the earlier offer of A$0.80 ($0.54).
Wind Power Monthly reported Iberdrola has now obtained a 52.75 percent stake in the company, at a takeover bid of A$0.92 ($0.66) per stapled security.
With the acquisition, Iberdrola will assume ownership of Infigen’s 670 megawatts of wind generation assets, 268 megawatts of firming assets, 246 megawatts of additional renewable capacity