The takeover of Windlab, a publicly listed wind energy development company with operations across Australia, Southern Africa and North America, is set to move forward, following the recent approval by the Supreme Court of New South Wales.
According to Renewables Now, a consortium consisting of Wind Acquisition 1 and Squadron Wind Energy submitted a cash offer of A$1.00 ($0.69) in March, representing a 38.9 percent premium to the company’s closing price on Jan. 17.
Wind Acquisition 1 is an investment vehicle managed by Federation Asset Management Holdings Pty, an Australian private equity firm that purchased a 18.4 percent stake in Windlab in October 2019. The other consortium member, Squadron Wind Energy, is owned by the Minderoo Group of Companies.
The Supreme Court’s approval comes a week after Windlab shareholders approved the deal.
