EQT joins Norges Bank Investment Management to bid for Acciona Energía. The renewable subsidiary of Acciona is valued at €11 billion in the current market.
EQT has formed an alliance with Norges Bank Investment Management (Nbim) to participate in the bid for Acciona Energía, the renewable division of the Spanish group controlled by the Entrecanales family. This information was published by expansión.com.
The valuation of Acciona Energía is approximately €11 billion, including debt, and its parent company, Acciona, owns 91% of it. The partnership between EQT and Norges has spurred investor interest, causing an increase in the value of Acciona Energía and its parent group in the Ibex index.
The consortium led by EQT holds nearly 75% of the offer, while Nbim controls the 25% remaining, and together they seek to acquire 100% of the company. This consortium competes with Ardian, which has not yet formed alliances, although it may need co-investors to tackle the purchase.
Both investment funds, EQT and Ardian, have significant resources to invest in infrastructure. EQT raised €21.5 billion in 2023 and plans to raise another €21 billion with its next fund, while Ardian raised €20 billion last year.
Non-binding offers for Acciona Energía were submitted at the end of July. In this new phase of the process, meetings are being organized between interested parties and the company's management team to clarify doubts. It is expected that by mid-October the price they are willing to pay will be confirmed.
Acciona plans to select the best proposal and begin exclusive negotiations, intending to reach an agreement by the end of the year. The transaction could be carried out through a public takeover bid (OPA) to delist the company from the stock exchange.
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