Brazilian renewable energy company Omega Energia said on Monday that British private equity firm Actis LLP will acquire 10% of its capital stock for around $147m.
Tarpon Investimentos, which holds a controlling stake in Omega, granted Actis call options to acquire shares at the price of 13.50 reais per share, according to a securities filing.
Once Actis holds a 10% stake in the company, a new shareholders agreement will become effective, making the British firm part of Omega’s controlling group.
Get the week’s top news delivered directly to your inbox – Sign up for our newsletter
Actis and Omega also entered into an investment commitment, by which the renewable power company may require Actis to invest around 850 million reais in it. The investment would occur by a capital increase, in which Actis will have to subscribe new shares in Omega for up to 16 reais per share.
The capital increase could happen in the period between Oct. 1, 2022 and March 31, 2023, Omega said.
In the same filing, Omega announced it entered a protocol of intent for a potential investment of up to $500m from an undisclosed partner from the United States.
The investment would be used to develop or acquire renewable projects in the United States.
Source: Yahoo News
Can’t stop reading? Read more
Blackstone taps bond market as private credit BDCs end issuance drought
Blackstone taps bond market as private credit BDCs end issuance drought Blackstone's private...
EQT raises the stakes with revised $12.3bn bid for Intertek
EQT raises the stakes with revised $12.3bn bid for Intertek EQT has tabled an improved takeover...
Temasek’s Azalea bets on evergreen structure to democratise private equity access
Temasek's Azalea bets on evergreen structure to democratise private equity access Azalea, a unit...